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6 Key Themes from the SEC's Cryptocurrency Enforcement Actions

This month we saw an onslaught of cryptocurrency enforcement actions issued by the Securities and Exchange Commission (SEC) in the United States. From unregistered securities to crypto-lending to ICOs, the Securities and Exchange Commission’s recent cryptocurrency actions have been swift, painful, and far-reaching.

See below for a roundup of the six key themes from the SEC’s most recent enforcement actions:

  1. Cryptocurrencies tokens are mostly securities, so all exchanges selling tokens must be registered with the SEC.(Ripple, LBRY, FTX, Kraken)

  2. Potential actions against stablecoin issuers. (Paxos)

  3. Crypto asset lending via an unregistered firm (Genesis Capital, Gemini)

  4. Crypto staking via an unregistered firm (Coinbase, Kraken)

  5. Celebrity endorsements of crypto without disclosures. (Kim Kardashian)

  6. Cryptocurrency issuers must use qualified custodians. (New rule)

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