SEC chairman Jay Clayton urges investors to exercise ‘extreme caution’ around ICOs

America’s chief financial regulator is warning investors against cryptocurrency scams. SEC chairman Jay Clayton released an official statement today urging caution on cryptocurrency and initial coin offerings. “If an opportunity sounds too good to be true,” the statement reads, “or if you are pressured to act quickly, please exercise extreme caution.” Clayton also cautioned that no ICO has been registered with the SEC and that any trading of cryptocurrencies should be done with a considerable amount of care.

Clayton’s comments come as bitcoin is rapidly gaining value, attracting attention from more traders hoping to cash in. On November 29th, bitcoin passed $10,000 in value, a more than 933 percent surge from the beginning of the year….

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