The US SEC has announced the appointment of Kristina Littman as chief of the cyber division. She holds the position previously held by Robert Cohen, who left the SEC in August.
The SEC’s cyber division deals with the verification of activities involving initial coin offerings (ICOs) and blockchain technology.
Littman joined the SEC’s enforcement division in 2010 as a staff attorney in Philadelphia. Since then, she has served as a senior lawyer in the market abuse unit and trial unit. Littman was previously Senior Advisor to SEC President Jay Clayton. His role was to deal with regulatory issues and policies related to cryptocurrencies and digital assets, trading and markets and managing investments.
“Kristy’s innovative thinking and broad experience within the Commission have made her an invaluable advisor and, most importantly, a tireless defender of American investors,”
said Clayton.
“He will be an excellent leader for the cyber unit, as he continues his activity in this critical and constantly evolving area.”
The cyber unit was established in 2017
Former division chief Robert Cohen left the SEC to join law firm Davis Polk & Wardwell LLP as a partner. Cohen has handled several cryptocurrency cases, including suing Kik Interactive for the sale of unregistered securities as part of the $ 100 million ICO. It also blocked the distribution of the GRAM tokens of the Telegram project.
The SEC set up the cyber unit in September 2017 to focus on targeting offenses related to digital products. These include market manipulation schemes and “bad behaviors using dark web”, among others.
“Cyber threats and misconduct are among the biggest risks facing investors and the securities industry. The cyber unit will enhance our ability to detect and investigate cyber threats, by increasing expertise in an area of critical national importance ”,
Stephanie Avakian, co-director of the SEC’s executive division, said at the time.
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