The US Securities and Exchange Commission is currently starting to spearhead a probe into cryptocurrency market, The Wall Street Journal reported last Wednesday.
According to Wall Street Journal report, it says that as part of that investigation, the SEC has issued “scores of subpoenas” to obtain information from technology companies and advisors tied to the digital currency markets.
WSJ’s sources said that the agency is looking into the structuring of initial coin offerings, which are not as heavily regulated as public offerings.
As of posting, a spokesman for the SEC declined to comment to the Journal.
The news comes amid the increasing demand for bitcoin and other digital currencies has sent their valuations into wild turns.