The U.S. Securities and Exchange Commission is restructuring its enforcement approach by scaling back its cryptocurrency oversight unit and replacing it with a smaller team focused on cyber fraud and technological threats.
What Happened: The newly formed division will investigate crimes involving blockchain misuse, artificial intelligence, machine learning, and social media-driven financial fraud, Bloomberg reported.
The new enforcement group will have 30 specialists, led by Laura D’Allaird, a former co-chief of the SEC’s cryptocurrency unit.
This marks a significant reduction, as the new team will operate with 20 fewer staff members than the unit dedicated to cryptocurrency enforcement, …
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