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The U.S. regulators: recent actions and statements


The SEC, or the U.S. Securities and Exchange Commission, viewing initial coin offerings as securities trading variation and regulating them as such, publicly accuses two ICO startups of fraud schemes. This is the first time the SEC makes such statements towards particular ICO projects. The press release states that Diamond Reserve Club World (DRC World) and REcoin Group Foundation, both headed by Maksim Zaslavskiy, contain signs of fraud and violate the U.S. laws on securities.

Meanwhile, VanEck, one of the respectable investment funds, had to postpone its plans to create a Bitcoin ETF (the trading procedure involving futures and cryptocurrency), when the SEC decided not to review applications from cryptocurrency funds until the Bitcoin derivatives mentioned in the application actually emerge.

In other news from the U.S. regulators, the National Credit Union Administration (a body responsible for the federal union credit control) has prepared a report on financial trends where it tells that cryptocurrencies pose both risks and opportunities for financial investors, a trend that will last, and even accelerate, through 2022.

The acting director of the U.S. Treasury Department (the governmental body managing government revenue), in turn, told he does not exclude the opportunity of banks operating with digital currency in the future and told about fintech charters – special licensing documents which would ease the cross-border business for digital companies.


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