SEC’s Expansion of Crypto Assets and Cyber Unit Signals Increased Enforcement Ahead

06/16/2022

In a move that further executes upon the SEC’s increasingly tough rhetoric on cryptocurrency and cybersecurity, SEC Enforcement recently announced that it will nearly double the size of its newly-renamed Crypto Assets and Cyber Unit, the specialized unit that focuses on enforcement in those areas. This development is remarkable for the dramatic expansion of what was already one of Enforcement’s most high-profile units. While cryptocurrency and cybersecurity have been stated priorities for Enforcement since the Unit’s establishment in 2017, the SEC’s decision to allocate its limited resources to increase the Unit’s headcount almost twofold signals unambiguously that Enforcement intends to ramp up the number of investigations and enforcement actions against players in the cryptocurrency space, as well as public companies and investment advisers that the SEC deems to have taken inadequate steps to prevent and disclose cybersecurity breaches.

Full story : SEC’s Expansion of Crypto Assets and Cyber Unit Signals Increased Enforcement Ahead.

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