Laura D’Allaird has been appointed chief of the U.S. Securities and Exchange Commission’s new crypto watchdog, said the SEC in a new announcement.
The SEC says the new Cyber and Emerging Technologies Unit (CETU) will replace the old Crypto Assets and Cyber Unit.
CETU says it will “combat misconduct” relating to securities in the areas of emerging technologies fraud, social media and dark web fraud, hacking, brokerage account takeovers, crypto fraud, cybersecurity compliance, and cybersecurity fraud.
D’Allaird is an attorney who has served as Senior Counsel in the SEC’s Cyber Unit Enforcement Division.
Said Acting Chairman Mark T. Uyeda of the new unit,
“Importantly, the new unit will also allow the SEC to deploy enforcement resources judiciously.
The unit will not only protect investors but will also facilitate capital formation and market efficiency by clearing the way for innovation to grow. It will root out those seeking to misuse innovation to harm investors and diminish confidence in new technologies.”
One of CETU’s aims will be to combat crypto fraud by complementing the work of the SEC’s Crypto Task Force, led by Commissioner Hester Pierce.
Earlier this week, Pierce sent out a warning to memecoin traders – if things go wrong, the SEC might not bail them out.
“Just because something is out there and it’s popular does not mean that it will fit within the SEC jurisdiction. So I just caution people not to assume that there’s going to be an SEC regulatory backstop to everything…”
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