The SEC launched a series of instructional seminars on April 3, 2023, to help consumers and communities approach the cryptocurrency sector in a safer manner.
The U.S. Securities and Exchange Commission is a separate federal body of the American government that oversees market regulation and investor protection. After the market crash in October 1929, the agency was established in 1935.
The SEC controls the financial industry, creates regulations, and closes regulatory gaps. The SEC's duties include tracking the business industry's annual logbook, approving licences, observing market fairness, and more.
Promoting financial literacy in the nation has always been a priority for government regulatory organisations.
The key driver behind the SEC's education initiative
The series of events by the SEC will reach out to a variety of demographics, including high school students, military personnel, experienced investors, and American citizens.
In order to decrease the likelihood of fraud and other crimes against people, the program's introduction aims to educate communities and individuals about financial terms and legislation.
The banking regulators recommended that this instructional session contain information on how to avoid becoming a victim in the cryptocurrency industry.
The cryptocurrency industry has been expanding steadily, but it has also seen some criminal activity. The SEC has been keeping an eye on these odd firms, some of which are abusing Crypto's vulnerabilities.
Agency's "Cautious" understanding of regulations
The regulatory agency issued a warning on March 23, 2023, urging investors to use prudence while investing in cryptocurrencies. If anyone is considering investing in the cryptocurrency platform, there are a few things to keep in mind.
"Only money that you can afford to lose completely should be put at risk with any risky venture."
The company's financial records are crucial, and it is suspicious when asset organisations withhold key information and account reports from investors. Investors need to stay far away from these organisations.
The large cryptocurrency market is quite dangerous and highly volatile.
Last Thoughts
It is a risky road for different people due to the volatility of the cryptocurrency market. People find it more challenging to voice their concerns to an entity because of the decentralized character. The goal of the SEC's financial literacy initiatives is to facilitate a safer approach to propose the crypto business while minimizing issues.
