Cryptocurrency Foundation the founder of TechCrunch has received a subpoena from the SEC

Cryptocurrency Foundation the founder of TechCrunch has received a subpoena from the SEC

The Commission on securities and stock exchanges of the USA sent a summons cryptocurrency Fund, which was founded by TechCrunch founder Michael Arrington.

In an interview with CNBC, Arrington confirmed that he had received a subpoena. Probably is part of a wider SEC investigation into activities of ICO projects. However, details of the investigation are still unclear.

Recognition Arrington is the second public recognition of this kind, after a similar statement was made Overstock – one of the largest online shops in the USA. Although Overstock saying that they had received a request for the voluntary submission of the documentation.

Arrington made the following comments on the agenda from the SEC:

We received a summons to court. Each cryptocurrency Fund, which I know has received such a subpoena.

All right, they just need to figure out certain points. They need to establish rules in this area, the market has long been in need of them.

We will remind that the Fund of Arrington – Arrington XRP Capital last year was attended by approximately 100 million.

However, just two weeks ago, Arrington very differently evaluate the actions of the SEC. In one of the tweets (deleted at the moment), he wrote:

I’m not just worried, I’m terrified. These projects worked with the best law firms and they checked everything they could check. And now the SEC sends their agenda not just companies, but investors!

SEC still refused to comment on the scope and nature of the investigation. According to some sources, only about 80 were sent subpoenas.

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