Source: The US SEC has issued subpoenas to at least three crypto venture capital companies this year

Sources familiar with the SEC's investigation revealed that the SEC has issued subpoenas to at least three cryptocurrency venture capital firms this year. One of the subpoenas is titled "Questions Regarding Certain Crypto Asset Intermediaries." The page reads: "The SEC staff is investigating the above matters to determine whether there are violations of federal securities laws." The SEC's investigation into crypto venture capital shows that the agency is currently focusing on the starting point of the crypto capital channel-that is, the investors from whom the vast majority of crypto startups receive initial funding. The source also said that at least two other crypto venture capital firms have received basically the same document requests, and the subpoenas sent to crypto venture capital firms require the provision of any token trading contracts in which investors participate. A lawyer for a crypto venture capital firm that was not affected by the subpoena said: "This is an excessive fishing enforcement and it is extremely expensive." (DL News)