SEC To Expand Crypto Assets and Cyber Unit
As the crypto financial market evolves and develops, the Securities and Exchange Commission (SEC) is trying to catch up. Yesterday, the SEC announced 20 new positions designated to protect crypto investors from cyber-related threats and is expected to expand to more than 50 as the cryptocurrency market outperforms broad equity indices.
As the SEC amps up its crypto regulation enforcement efforts, New York State is trapped in a quagmire of poorly drafted and ill-conceived legislation aimed at crypto enforcement. David Rosenfield, Chair of White Collar Defense and Investigations, was quoted in a Cointelegraph article detailing his opinion on the bill.
Christopher Warren, Managing Partner at Warren Law Group, states, “The SEC and State Legislatures are playing catch up to a virtual and decentralized marketplace that has already boomed. Local governments have had difficulty grappling with the subject matter and applying existing laws, such as the Martin Act, to blockchain assets. Government regulators are trying to close the door on the barn, when not only is the horse out of the barn, but the barn is on fire.”
If you are under investigation by the SEC, DOJ, FINRA, the Attorney General or other regulatory agencies, contact the attorneys at Warren Law Group at (866) 954-7686 or email info@warren.law to schedule your consultation.
