In an official statement from yesterday, Securities and Exchange Commission (SEC) chairman Jay Clayton warned cryptocurrency investors to exercise “extreme caution” when backing initial coin offerings (ICOs) – especially the ones that claim to be registered with the SEC. Addressing the massive hype around cryptocurrencies, blockchain and ICOs, Clayton offered his “general views” on the current state of affairs in the market. “A number of concerns have been raised regarding the cryptocurrency and ICO markets, including that, as they are currently operating, there is substantially less investor protection than in our traditional securities markets, with correspondingly greater opportunities for fraud…

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