Another day and another US Securities and Exchange Commission (SEC) crypto crackdown case. Recently, the US regulator announced emergency action against investment adviser BKCoin Management in connection with an alleged fraud scheme.
The SEC alleged on 07 March 2023 that Miami-based BKCoin Management raised $100 million from at least 55 investors to plug into cryptocurrency. Instead, it was used to spend on luxury items and make “Ponzi-like payments” to investors to hide their fraud. The inv