Well, folks, it seems the U.S. Securities and Exchange Commission (SEC) has decided to don its superhero cape and form the Cyber and Emerging Technologies Unit (CETU). Yes, you heard that right! They’re tackling cyber-related fraud like it’s a game of Whac-A-Mole, but instead of moles, they’re whacking digital criminals. 🥴
In a move that can only be described as “better late than never,” Laura D’Allaird has been appointed as the chief of this shiny new unit, which is replacing the Crypto Assets and Cyber Unit. Apparently, they needed a rebranding to sound more like a tech startup and less like a group of accountants at a holiday party. The new unit boasts a team of 30 fraud specialists and attorneys, which is basically the SEC’s version of the Avengers, minus the spandex. 🦸♀️
US SEC New Unit to Tackle Cyber and Crypto-Related Misconduct
The SEC has declared that CETU will be the frontline warriors against fraud linked to blockchain technology, crypto assets, and those pesky online scams that pop up like weeds in a garden. They’ll also be ensuring that regulated entities and public issuers are playing nice in the cybersecurity sandbox. Because, let’s face it, nobody wants a digital tantrum on their hands. 😩
According to SEC Acting Chairman Mark T. Uyeda, CETU will be working hand-in-hand with the Crypto Task Force led by Commissioner Hester Peirce. “The unit will not only protect investors but will also facilitate capital formation and market efficiency by clearing the way for innovation to grow,” Uyeda said, probably while trying to sound like he understands what “capital formation” really means. 🤔
As the SEC continues its vigilant watch over digital markets, CETU will ensure that artificial intelligence and machine learning are used for good, not evil. Because if there’s one thing we need, it’s more robots that don’t want to steal our life savings. 🤖
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2025-02-20 19:14