SEC First Takes Measures Against Hedge Fund

The Securities and Exchange Commission (SEC) is preparing to investigate the activities of up to 100 hedge funds that deal with cryptocurrency.

The Securities and Exchange Commission (SEC) opposed the hedge fund of cryptocurrency for violating the law on securities.

The initiative is separated from dozens of other inquiries related to the crypto currency, which is conducted by the agency, which mainly targets companies suspected of violating securities laws through the conduct of initial offers of coins (ICO).

On Tuesday, the SEC filed a $ 200,000 fine with Crypto Asset Management and its founder, Timothy Enneking, for managing the US fund, without the proper approval of regulatory bodies. In addition to the penalty, the SEC demanded that all activities related to cryptocurrencies be immediately terminated.

According to reports, Timothy Enneking collected 3.6 million dollars from 44 investors and at the end of 2017 managed more than 36 million dollars in digital assets.

The reported study of hedge funds follows the analysis of the growth of the cryptology of the US financial regulator. Earlier this month, the SEC issued a note informing the crypto community that the digital assets trading platform that should be registered with the SEC.