Securities and Exchange Commission doubles the size of Enforcement’s Crypto Assets and Cyber Unit with 50 dedicated positions

The Securities and Exchange Commission is doubling the number of positions in its Enforcement’s Crypto Assets and Cyber Unit to meet the growing number of violations and complaints and the skyrocketing number of investors in the crypto markets. Since it was started in 2017, the unit has taken more than 80 enforcement actions relating to fraudulent and unregistered crypto-asset offerings and platforms that resulted in monetary relief of more than $2 billion. In addition, the unit has brought numerous actions against SEC registrants and public companies for failing to maintain adequate cybersecurity controls and for failing to appropriately disclose cyber-related threats to the nation’s markets. The addition to the unit will include investigative staff attorneys, trial counsel and fraud analysts in the agency’s headquarters in Washington D.C.

JEFFREY NEWMAN, A FORMER PROSECUTOR IS A WHISTLEBLOWER WITH THE FIRM NEWMAN & SHAPIRO HANDLING CASES NATIONWIDE IN SEC WHISTLEBLOWER CLAIMS, FALSE CLAIMS ACT CASES, AND IRS WHISTLEBLOWER CASES. HE CAN BE REACHED AT 617-823-3217 OR AT JNEWMAN@NEWMANSHAPIRO.COM