Excerpt:
The Securities and Exchange Commission has taken aim at cryptocurrencies this year, but it's now going after certain funds that manage investments in them. On Tuesday, the U.S. financial watchdog issued a cease-and-desist order and $200,000 fine to Crypto Asset Management and its founder, Timothy Enneking. The SEC said the fund, which at one point billed itself as the "first regulated crypto asset fund in the United States," never registered as an investment company. According to the agency, the company "willfully" violated securities laws by skirting the required registration associated with holding and trading securities. The case is the SEC's first against a fund managing digital assets and marks an extension of the agency's crackdown from cryptocurrencies to those investing in them. [...]