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**SEC Targets Cryptocurrency Companies in New Investigations**
The US Securities and Exchange Commission (SEC), known for its longstanding scrutiny of the cryptocurrency market, is intensifying its focus with new investigations aimed at the industry.
According to DL News, the SEC is currently probing cryptocurrency venture capital firms over allegations of selling unregistered securities. BlockTower Capital’s CIO, Ari Paul, discussed these developments on the Unchained podcast, highlighting that the SEC suspects some firms of operating as unregistered securities dealers.
Ari Paul emphasized that these investigations, spearheaded by SEC Chairman Gary Gensler, reflect heightened regulatory pressure on the digital asset sector. He justified the SEC’s actions by pointing out that certain venture capital firms engage in agreements with crypto projects prior to their tokens’ public trading, effectively acting as securities dealers.
Paul elaborated on how these firms allegedly breach securities laws, citing instances where venture capitalists secure tokens at significant discounts in exchange for promotional efforts, which he criticized as resembling a “pump-and-dump” scheme.
The SEC, under Gary Gensler’s leadership, has recently taken legal action against major cryptocurrency platforms including Coinbase, Kraken, and Binance, accusing them of unlawfully offering unregistered securities to investors.
In related news, the SEC also targeted the decentralized finance (DeFi) sector, filing a lawsuit against Consensys on June 28 for allegedly conducting unregistered securities sales through its MetaMask staking service.
*This article does not constitute investment advice.*
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This version maintains the core details while presenting them in a more structured and engaging manner.
