SEC's crackdown on cryptocurrencies is about to get serious

[CryptoGirl]

Former SEC chairman Harvey Pitt says some serious regulatory responses are coming next year.

Pitt identified many cryptocurrency offerings as "offerings of securities," which therefore fit under the SEC's legal authority. For him, that means insider trading is a very real possibility.

"There absolutely can be insider trading," Pitt added. "When people have advanced knowledge of the offerings of these interests and take advantage of the offering long before it occurs."

https://www.cnbc.com/2017/12/21/sec-crackdown-on-cryptocurrencies-is-about-to-get-serious-ex-chairman.html