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Laxman Pai, Opalesque Asia:

The North American Securities Administrators Association (NASAA) announced that its ongoing initiative "Operation Cryptosweep" has resulted in over 200 investigations of Initial Coin Offerings (ICOs) and crypto-related investment products.

First launched in May by the North American Securities Administrators Association (NASAA), "Operation Cryptosweep" has already brought 46 enforcement actions against ICOs and firms offering cryptocurrency investment products in the U.S. and Canada.

The fundraising method has raised $12 billion this year alone, compared with $7.4 billion in all of 2017, according to research firm Autonomous Next. Much of that total came from retail investors.

"State and provincial securities regulators are committing significant regulatory resources to protect investors from financial harm involving fraudulent ICOs and cryptocurrency-related investment products and also are raising awareness among industry participants of their regulatory responsibilities," said NASAA President and Alabama Securities Commission Director Joseph P. Borg.

Borg noted that while some of the enforcement investigations initiated as part of Operation Cryptosweep involve suspected securities fraud, regulators are finding many other potential violations of state and provincial securities laws, including failure to properly register a product before it was offered to investors.

"While not every ICO or cryptocurrency-related investment ......................

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