Operation Crypto-Sweep: US and Canada to combine forces

The governments of the United States and Canada are closely cooperating on the cryptocurrency issue, as the press has noticed at the recent meeting of the North American Securities Administrators Association (NASAA). The media has already called their joint operation ‘Crypto-Sweep’.

Washington Post provides the numbers: 70 investigations and 35 opened cases have already been opened, with 40 jurisdiction involved. President of NASAA Joseph Borg has noted that the main focus of the law enforcement and financial supervision agencies is the continuous violation of the securities principles. Those crypto businesses adhering to the principles set by the United States Securities and Exchange Commission and other agencies have nothing to fear, the influential figure stressed.

The case of BTCrush has been raised at the meeting: due to the Internet nature of the enterprise, the company did not know about its engagement with the U.S. market and swiftly fulfilled the demands of the regulators while noting it wouldn’t have done so in the first place. This illustrates how important it is for a crypto business to know the laws of the United States even if working with this market is not directly written in the business plan.