The U.S. Securities and Exchange Commission (SEC) has announced the formation of the Cyber and Emerging Technologies Unit (CETU) to address cyber-related fraud and protect retail investors. The new unit will focus on misconduct involving digital assets, artificial intelligence, and other emerging technologies.
Laura D’Allaird has been appointed as the chief of CETU, which replaces the Crypto Assets and Cyber Unit. The new unit consists of 30 fraud specialists and attorneys from various SEC offices.
US SEC New Unit to Tackle Cyber and Crypto-Related Misconduct
The SEC stated that CETU will play a key role in tackling fraud linked to blockchain technology, crypto assets, and online scams. The unit will also focus on cybersecurity compliance for regulated entities and public issuers.
According to SEC Acting Chairman Mark T. Uyeda, CETU will work alongside 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.
The SEC has maintained an active stance in overseeing digital markets. With the rise of artificial intelligence and machine learning, CETU will ensure these technologies are not misused to deceive investors.
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