SEC’s New Cyber and Emerging Technologies Unit to Target Cryptocurrency Fraud and Protect Retail Investors

The U.S. Securities and Exchange Commission (SEC) has officially launched the Cyber and Emerging Technologies Unit (CETU) as of February 20. This newly formed unit aims to strengthen regulation against internet-related misconduct, with a specific focus on safeguarding retail investors from fraudulent activities in the rapidly evolving tech landscape. CETU effectively replaces the Cyber Unit previously situated within the Division of Enforcement, consolidating around 30 seasoned professionals, including attorneys and fraud specialists, across various SEC locations. Its strategic objectives include targeted efforts to combat fraud associated with blockchain technologies and cryptocurrencies. This initiative highlights the SEC’s commitment to enhancing oversight in the cryptocurrency market and ensuring the integrity of this dynamic sector, which has seen a dramatic surge in both interest and investment from the public.