Digital currencies are still the focus of regulatory bodies. The North American Association of Securities Administrators (NASAA) today announced the largest concerted law enforcement actions by state and regional securities regulators in the United States and Canada.
The efforts of NASAA will be aimed at stopping the fraudulent use of ICO, investment products related to the crypto currency and the companies behind them.
More than 40 jurisdictions throughout North America took part in the coordinated actions of the regulatory bodies, code-named "Operation Cryptosweep". As part of the operations at the time of this writing, it filed 70 requests for information, and 35 claims for enforcement of enforcement related to the ICO or cryptocurrency.
Joseph P. Borg, president of NASAA and director of the Securities Commission of Alabama, said: "There have also been found around 30,000 registrations of domain names related to cryptocurrency, most of which appeared in the years 2017 and 2018".
In April 2018, NASAA initiated a coordinated series of investigations into ICO and investment products related to crypto-currencies. Regulators found a large number of such products and hundreds of ICO in the final stages of preparation. These ICOs were advertised and placed on websites to attract investors. The regulator has already checked many of them, and some still await verification.
Recall that the US and Canadian authorities often cooperate in their law enforcement actions against digital currency fraud. One recent example concerns a case initiated by the US Securities and Exchange Commission (SEC) against PlexCorps. The SEC appealed for help to the Supreme Court of Quebec to collect evidence and documents. The documents requested by the accused companies Lacroix and Paradis-Royer, includes all messages and documents between the defendant and the United States against PlexCorps and ICO PlexCoin.