The American Securities and Exchange Commission (SEC) has announced a series of educational events to improve the financial literacy of its population.
Every year since 2004, the National Financial Capability Month celebrated throughout the month of April in the United States. The purpose behind this is to raise public awareness of the importance of financial literacy and maintaining smart money management habits.
Crypto warning
In the April 3 announcement the American regulator indicates that the theme for this is ‘investing for everyone’. Throughout the month, SEC leadership and staff will be using the free tools and resources available at Investor.gov promote. Also, leadership and staff will participate in investor education events across the country with diverse audiences, including students, underrepresented communities, older investors and the military.
However, the SEC suggested that its approach to such events could include “how to avoid becoming a victim of fraud” using cryptocurrencies.
In the announcement, the SEC cited as one of its sources the regulator’s March 23 warning urging people to “exercise caution” when considering investments in crypto projects that may qualify as securities in the United States.
Enforcement measures against crypto
The regulators’ announcement comes as many within the crypto industry are criticizing the SEC for claiming it wants companies to “come in and talk” as they continue to take enforcement action.
For example, about two weeks ago it appeared in the crypto news that the American listed crypto exchange Coinbase had launched a so-called Wells Notice despite meeting with representatives for “more than thirty times in nine months”.
You could also read a few days ago that the chairman of the SEC, Gary Gensler, wants more funding for his fight against the crypto sector. He believes that the SEC needs an additional $2.4 billion to keep up with the rapid development in the crypto sector.