The U.S. Securities and Exchange Commission (SEC) has released a report detailing actions taken against fraudulent ICOs and financial ventures, and, indeed, the year has been wrought with cases. The report details actions for 2018’s fiscal year, which ended on September 30, and offers insight into the ICO-related fraud that has seemingly come to light over the past several months.Misconduct actions against ICOs and similar cryptocurrency ventures are led by the organization’s Cyber Unit, which became fully operational this year. The SEC explains in the report, “We believe our approach to enforcement in this space has been thoughtful and consistent. Importantly, it has provided a template for authorities in other countries, where fraud and misconduct targeting U.S. investors often have been based.” The report regards ICOs as “high-risk investments,” as many “lack viable products or established track records.” The document also says that many contain shady business models or are unable to safeguard digital assets from theft by hackers, while others are completely fraudulent and operate under the guise of garnering business capital. Since the formation of the Cyber Unit, the SEC’s actions against cyber-related misconduct has increased heavily. In 2018, the organization brought forth 20 standalone cases related to financial fraud, 12 of which had to do with ICOs and digital assets. At the end of the fiscal ... For Further Information Click on Below Button