The US Securities and Exchange Commission (SEC) We are adding 20 additional staff positions to the unit responsible for protecting our investors. Cryptocurrency From the market cyber-Related threats. As announced on May 3, 2022, the newly renamed Crypto Assets and Cyber Unit (formerly Cyber Unit) of the Executive Department has increased from 30 to 50 full-time positions. Supervisors, investigative staff lawyers, court advisors, and fraudulent analysts at both the Washington, DC headquarters and several regional offices.
Gurbir S. Grewal, Director of Executives at the SEC, said: Private investor Take the brunt of abuse in this space. Meanwhile, cyber-related threats continue to pose risks to financial markets and participants. “
Similarly, SEC Chairman Gary Gensler said, “As more investors access the crypto market, it is becoming increasingly important to allocate more resources to protect them.” ..
Important point
- The SEC is expanding its staff dedicated to protecting investors from crypto-related fraud and cyber threats.
- The newly renamed CryptoAssets and Cyber Unit will grow from 30 to 50 positions.
- Founded in 2017, the unit has provided more than 80 enforcement measures and more than $ 2 billion in financial relief.
Focus of crypto assets and cyber units
Since its inception in 2017, what is now called the Crypto Assets and Cyber Unit has resulted in the provision of fraudulent and unregistered crypto assets and more than 80 platform-related enforcement measures, totaling more than $ 2 billion. Brought financial relief. Going forward, the expanded unit will focus on investigating securities law violations related to:
In addition, the unit has filed numerous proceedings against SEC registrants. Public company Failure to maintain proper cybersecurity management and failure to properly disclose cyber-related risks and incidents. The unit will continue to take appropriate action to mitigate the large and growing cyber-related threats to the US market.
Previous SEC statements on cryptography and cybersecurity
In a speech on April 4, 2022, SEC Chair Gary Gensler stated his belief that cryptocurrency trading and lending platforms should be registered and regulated as before. Stock exchangeAnd he showed that the SEC is working on this initiative.
On March 30, 2022, the SEC’s review department announced that cryptocurrencies and information security will be key areas of unique focus in 2022.
On March 9, 2022, the SEC proposed to wipe out new mandatory corporate disclosures related to cybersecurity issues.