The unit of the United States Securities and Securities Commission in charge of chasing the bad ones in the cryptographic space will be smaller and called something significantly different, said the agency on Thursday, further ciming its tendency of an aggressive position of application of application Against the industry.
In three years, the same internal group has gone from the “cyber unit” to the “Cyber and Cyber unit” and now to the “Cyber and Emerging Technology Unit”, apparently with an approach to its role of cryptography. In 2022, the SEC of the then trustee Gary Gensler announced that the execution team almost doubled to 50 people. The last announcement says that it will include “approximately 30 fraud specialists and lawyers in multiple SEC offices.”
“The unit will not only protect investors, but will also facilitate capital formation and market efficiency by clearing the way for innovation to grow,” said interim president Mark Uyeda in a statement, which also announced Laura D ‘Arlaird as head of the revised group. “He will observe those who seek to abuse innovation to harm investors and reduce confidence in new technologies.”
This language firmly contrasts with the rhetoric focused on Gensler’s cryptography in 2022, when he said that the unit would pursue “those who seek to take advantage of investors in cryptographic markets.”
President Donald Trump raised Uyeda to the Republican of his role as commissioner to direct the agency interim, while the United States Senate considers the nomination of former Paul Atkins Commission for permanent work. Uyeda is not sitting in her hands during the wait and has already been remakeing the SEC, especially when relaxing her strong distrust of cryptography.
Read more: the SEC goes back the struggle of cryptographic distributors, continues to restore the industry approach
Uyeda formed a cryptographic working group in the SEC, under the surveillance of the partner Republican Commissioner Hester Peirce, and this application unit is intended to “complement the work” of that group. In addition to seeking “fraud involving blockchain technology and cryptography assets”, the unit will monitor illegal uses of artificial intelligence, hacks and other cyber security errors.
