What Is the Role of the SEC in Regulating Crypto Assets in the US?
The U.S. Securities and Exchange Commission (SEC) primarily regulates crypto assets that it deems to be 'securities' under the Howey Test. The SEC aims to protect investors from fraud and manipulation, including pump and dump schemes, in these assets.
They have taken enforcement actions against issuers and platforms for unregistered securities offerings and fraudulent activity. Their jurisdiction is a point of ongoing legal debate.