The Commission on securities and exchange Commission (SEC) issued the order to cease and desist and impose a fine in the amount of $200,000 for the company Crypto Asset Management (CAM) and its founder, Timothy Enneking (Timothy Enneking). Writes CNBC, this is the first time the Commission takes disciplinary measures in respect of the Fund, managing digital assets.

According to the regulator, at the end of 2017 CAM fraudulently collected about $3.6 million from 44 investors, posing as the “first regulated Fund managed cryptocurrency assets in the United States.” However, the Fund never passed a check within the Commission and the SEC insists that Crypto Asset Management willfully violated the law, telling investors that has all the necessary documents for the implementation of the storage and trade securities.

After the SEC has acted against CAM charges, the Fund decided to terminate the public offering and offered investors a return on investment. Despite the fact that the company did not admit guilt, it also agreed to pay a fine.

In addition to this charge, yesterday, the Commission issued a similar order in respect of the portal TokenLot, positioning itself as the “supermarket ICO”. TokenLot, as well as CAM, were not registered in SEC, and the Commission hopes to recover from a portal to a penalty of $471 000. TokenLot guilt does not recognize.

We will remind that some days ago the SEC suspended trading exchange traded notes Bitcoin Tracker One and Tracker Ether One, released XBT Provider AB. The main reason for the order was the difficulty in determining the nature of these financial instruments.