The ongoing initiative called “Operation Cryptosweep” started by the North American Securities and Administration Association (NASAA) has revealed a crucial info about a 200 ongoing investigations on Initial Coin Offerings (ICO’s) other types of crypto related investment products.

Regulators from Canada and U.S. have launched their investigations over some potentially fraudulent investment programs as part of the aforementioned initiative “Operation Cryptosweep”. The main targets have been suspicious crypto investment products and its has been considered as one of the largest coordinated investigation of its kind by the state.

Josheph P. Borg, the NASAA president and Alabama Securities Commission Director, had mentioned that in the time of their investigation, the regulators have uncovered a great number of suspicious activities that can be considered a violation of the securities laws of the state. These violations have included a failure to register a product before a public offering to the investors.

Joseph has stated:

“While not every ICO or cryptocurrency-related investment is a fraud, it is important for individuals and firms selling these products to be mindful that they are not doing so in a vacuum; state and provincial laws or regulations may apply, especially securities laws. Sponsors of these products should seek the advice of knowledgeable legal counsel to ensure they do not run afoul of the law. Furthermore, a strong culture of compliance should be in place before, not after, these products are marketed to investors.”

But as the NASAA have stated, even registered products can also be fraudulent so in that regard all investors should do their own research before they make the decision to invest in ICOs.