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ARTICLE · 07 JUNE 2022

May 2022 Crypto Enforcement Actions And Regulatory Guidance Roundup

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In May, we saw a slower month for crypto enforcement actions by state and federal regulators.

United StatesTechnology
Michael J. Gilbert
Michael J. Gilbert
Gabriel Khoury
Gabriel Khoury
Zachary Golda
Zachary Golda
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In May, we saw a slower month for crypto enforcement actions by state and federal regulators. See our March 2022 Crypto Enforcement Actions Roundup blog here where we discuss the regulatory guidance and jurisdiction of federal and state agencies to enforce these matters.

Federal and State Updates

Securities and Enforcement Commission (SEC)

On May 3, the SEC announced "the allocation of 20 additional positions to the unit responsible for protecting investors in crypto markets and from cyber-related threats." Accordingly, the Crypto Assets and Cyber Unit in the Division of Enforcement will be expanded to "50 dedicated positions."The Crypto Assets and Cyber Unit has brought enforcement actions regarding securities law violations and for failure to maintain "adequate cybersecurity controls"-including negligent practices in disclosing cyber-related risks and incidents. The expansion demonstrates the SEC's intent to ramp up enforcement efforts, which we will watch

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