The Securities and Exchange Commission (SEC) was established in 1934 to oversee the securities industry in the United States. The SEC's main aims are to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. It achieves this by enforcing laws against market manipulation and other securities fraud, requiring disclosure of important financial information, and regulating the securities industry to prevent fraudulent activities. The agency has become increasingly involved in regulating new financial instruments, including cryptocurrencies and Initial Coin Offerings (ICOs), due to the rapid growth of the cryptocurrency market and concerns about investor protection and market integrity.