BlockTower Capital founder: The US SEC is expanding its crackdown on cryptocurrencies

The founder of BlockTower Capital stated that the action taken by the US Securities and Exchange Commission (SEC) against venture capital signifies that the agency is expanding its crackdown on cryptocurrency. Ari Paul, the Chief Investment Officer of the agency, also stated on the Unchained podcast on Wednesday that the SEC has launched "a series of investigations against venture capital firms acting as unregistered securities dealers." Some venture capital firms' discounted token transactions with cryptocurrency projects have violated strict securities laws, and this development will mark the latest upgrade in the SEC's crackdown on the digital asset industry.