Investing.com - Now state regulators are cracking down on cryptocurrency fraud.Regulators in some 40 U.S. states and Canadian provinces have launched "Operation Crypto Sweep," a coordinated effort to uncover illegal investment schemes to raise funds from investors, such as initial coin offerings. So far, the effort has yielded 70 investigations or inquiries and 35 pending or completed enforcement actions.The North American Securities Administrators Association is helping to lead the effort. The state crackdown comes as the federal Securities Exchange Commission steps up its efforts to uncover ICO fraud.