The US Securities and Exchange Commission (SEC) has issued its second warning in a month to those investing in cryptocurrencies. In a statement earlier today, the governmental body advised those involved in the space to “exercise caution” with Bitcoin and other digital currencies.SEC Chairman Jay Clayton, along with Commissioners Kara Stein and Michael Piwowar, said many companies hosting initial coin offerings were not doing so within compliance of federal and state securities regulations.
The SEC and state securities regulators are pursuing violations, but we again caution you that, if you lose money, there is a substantial risk that our efforts will not result in a recovery of your investment,” the officials said.
According to a report by Reuters, the Commissioners’ statement read:
“The SEC and state securities regulators are pursuing violations, but we again caution you that, if you lose money, there is a substantial risk that our efforts will not result in a recovery of your investment.”
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