New SEC Cyber Unit Closes Chapter on Agency's Crypto Enforcement Emphasis

The SEC's unit focused on crypto enforcement is being restructured and renamed, shifting away from its previous aggressive approach to the industry. Previously known as the "Crypto Assets and Cyber Unit," it will now be called the "Cyber and Emerging Technologies Unit" and will have around 30 members, down from the 50 announced in 2022. The unit's new focus will include protecting investors and fostering innovation in emerging technologies, including blockchain and crypto, but also artificial intelligence. While the unit will still investigate fraud related to crypto and blockchain, its mandate has broadened to include other cyber-related issues, suggesting a less concentrated focus on crypto specifically. This change comes under the interim leadership of Acting Chairman Mark Uyeda, who has been taking steps to soften the SEC's stance on crypto.