Despite the ongoing meme on crypto-twitter that “crime is legal,” it appears crime is still very much illegal, as the Securities and Exchange Commission (SEC) allocates resources to combat blockchain-based fraud. The Cyber and Emerging Technologies Unit (CETU) is set to replace the Crypto Assets and Cyber Unit and will be led by Laura D’Allaird, alongside 30 fraud specialists and attorneys who work with the SEC. The SEC’s acting chair, Mark Uyeda, said , “The unit will not only protect investors but will also facilitate capital formation and market efficiency by clearing the way for innovation to grow. It will root out those seeking to misuse innovation to harm investors and diminish confidence in new technologies.” To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
