On Wednesday, the U.S. Securities and Exchange Commission (SEC) initiated a probe into the way crypto exchanges are handling the growing problem of insider trading.
According to Fox Business, multiple crypto exchanges have received a letter from the SEC investigating how virtual asset exchanges are grappling with insider trading, an illegal practice of using confidential information for one's own economic advantage.
Earlier this month, the SEC hinted that it may categorize non-fungible tokens as securities after a former OpenSea employee was charged with insider trading, marking the first time that an NFT scheme was linked to the practice. "[The] charges demonstrate the commitment of [the Department of Justice] to stamping out insider trading – whether it occurs on the stock market or the blockchain," the Justice Department said at the time.
"A request for more information from the SEC to crypto exchanges would make sense given the SEC's recent emphasis on regulating the exchanges,...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...