Launches the feisty morgan – or the SEC’s Crypto Assets and Cyber Unit – on a winning footing.
The Securities and Exchange Commission launched its first ever cybersecurity initiative this week, and it’s only going to get bigger. The SEC will add more than a dozen new employees to combat the growing threat of cybercrime and protect investors from the perils of digital currency. The agency also is launching the aforementioned feisty morgan, which will include five full-time cyber analysts, six part-time analysts and seven staff members with a background in crypto research.
The SEC’s crypto security initiative will involve the creation of an “innovation center” to identify, develop and implement best practices for identifying, responding to and preventing cyber threats to the financial system. The centre will include a team of seasoned cyber experts who will be tasked with developing and testing cybersecurity tools and procedures, as well as providing guidance and training to federal, state and local governments on how to protect their citizens from the growing dangers of crypto crime.