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28
September2017
SEC creates a Cyber Unit for combating cyber frauds connected with blockchain and ICOs

SEC creates a Cyber Unit for combating cyber frauds connected with blockchain and ICOs

The US Securities and Exchange Commission (SEC) has formed a new division aimed at fighting against cybercrimes. Their competence includes the blockchain technology and ICOs. The corresponding information has been published on the SEC’s website.

The new division will combat database hacking and thefts of confidential information with subsequent manipulations in the market. Robert Cohen, former Chief of the SEC’s Market Abuse Unit, has been appointed Chief of the Cyber Unit.

The main reason for the establishment of such a division was a hacking attack on the SEC database and theft of inside information. However, representatives of the SEC say that it will not influence the organization’s current operations and activities.

The US Securities and Exchange Commission stores important data about participants of the financial market. It includes information about incomes as well as mergers and acquisitions.

 

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