As markets have embarked into the new frontier of cryptocurrency in recent years, the top federal agency that oversees financial services is admitting its crypto approach has been wrong. "I think our policies and our approach over the last several years have been just really a disaster for the whole industry," the commissioner of the U.S. Securities and Exchange Commission Mark Uyeda said on "Mornings with Maria" Wednesday.
Reuters has reported that the crypto trading platform is following the receipt of a "Wells notice," which is a formal declaration that regulator staff intend to recommend an enforcement action on the grounds that crypto tokens qualify as securities.
Business’ Eleanor Terrett contributed to this report.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: