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ARTICLE · 03 OCTOBER 2017

SEC Creates New Units Focused On Cyber Crimes That Will Cover Crypto Tokens

Reed Smith
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Two months after its Investor Bulletin stating that U.S. securities laws may apply to digital token sales, the Securities Exchange Commission ("SEC") announced Monday two new initiatives...

United StatesTechnology
Kari S. Larsen
Kari S. Larsen
Matthew Kita
Matthew Kita
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Two months after its Investor Bulletin stating that U.S. securities laws may apply to digital token sales, the Securities Exchange Commission ("SEC") announced Monday two new initiatives to address cyber-based threats and protect retail investors.  The SEC's press release outlined the creation of the Cyber Unit ("Unit") and the Retail Strategy Task Force ("RSTF").

According to the press release, the Unit has been in the planning stages for months, and will focus the Enforcement Division's substantial cyber-related expertise on targeting cyber-related misconduct, including:

  • Market manipulation schemes involving false information spread through electronic and social media
  • Hacking to obtain material nonpublic information

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