SEC Takes Action Against Cryptocurrency Hedge Fund

The US Securities and Exchange Commission (SEC) has issued a cease-and-desist order, and levied a $200,000 fine against Crypto Asset Management (CAM), a cryptocurrency investment fund. It has also fined its principal manager, Timothy Enneking. The SEC charges that CAP has operated as an unlicensed investment company, and that it has fraudulently represented itself as a regulated fund. Enneking has reportedly agreed to follow the order and pay the fine, but denies any wrongdoing.
The SEC, which i