SEC Restructures Crypto Enforcement Unit, Now Focused on Emerging Technologies
The U.S. Securities and Exchange Commission (SEC) has restructured its unit focused on crypto enforcement, now named the "Cyber and Emerging Technologies Unit." Key points include:
- The transition from "Cyber Unit" to "Crypto Assets and Cyber Unit," and now to the new name indicates reduced emphasis on crypto.
- The unit's size will decrease from approximately 50 to about 30 fraud specialists and attorneys.
- Acting Chairman Mark Uyeda emphasized investor protection and facilitating innovation in his statement.
- This shift represents a departure from previous aggressive enforcement rhetoric under former Chairman Gary Gensler.
- A Crypto Task Force was established to work alongside the new unit, focusing on blockchain-related fraud and cybersecurity issues.
This restructuring reflects a broader trend of the SEC moving towards a more lenient stance on the crypto industry.