The administration announced Thursday that it replaced the unit responsible for many of the SEC’s crypto registration suits with a new fraud-focused unit that will take a broader review of “cyber and emerging technologies.”
The Cyber and Emerging Technologies Unit will prioritize fraud cases that leverage novel tech including crypto, artificial intelligence, machine learning and social media, according to the SEC’s announcement. The unit is designed to “complement” the work on crypto policy from the newly created Crypto Task Force and “allow the SEC to deploy enforcement resources judiciously,” acting SEC Chair Mark Uyeda said in a statement.