The Securities and Exchange Commission has taken its first-ever enforcement action for an investment company registration violation by a hedge fund manager based on its investments in digital assets. The SEC has issued a ‘cease and desist’ order against cryptocurrency investment firm Crypto Asset Management (CAM) for offering a fund that falsely marketed itself as the “first regulated crypto asset fund in the United States.”    CAM and Enneking agreed to the SEC’s cease-and-desist order and censure without admitting or denying the findings against them, and agreed to pay a penalty of USD200,000.