The US Securities and Exchange Commission (SEC) has reportedly launched a string of inquiries into the activities of numerous crypto exchanges, striving to determine whether the businesses have adequate safeguards in place to prevent insider trading.
A "person with direct knowledge of the inquiry" told Fox News that the regulator has sent a letter to an unnamed major crypto exchange in which it requested information about how the company protects users from insider trading facilitated through its platform. The source claimed that the inquiry covers a number of other exchanges, per the report.
The letter was sent following last month’s terraUSD (UST) stablecoin crash and the meltdown triggered by its governance token LUNA, it added.
While it remains unclear for now whether similar letters have been issued to other major players, the person reportedly said that, based on their conversation with industry insiders, the probe is wide-ranging.
It is yet to be determined whether the...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
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...