SEC Cyber Chief And Ex-SEC Atty Spar Over Crypto Guidance

Law360 (October 28, 2020, 10:55 PM EDT) -- The chief of the U.S. Securities and Exchange Commission's cyber unit and an ex-SEC enforcement attorney offered starkly different assessments regarding the agency's effectiveness in regulating cryptocurrency on Wednesday, highlighting the tension between the agency and the crypto industry.

Speaking virtually at Securities Enforcement Forum 2020, Kristina Littman, chief of the SEC's cyber unit, said several SEC actions and guidance had mapped out an effective framework for the crypto space to follow.

In particular, she highlighted two recent SEC cases — the June $18.5 million settlement with Telegram Group Inc. and the October $5 million settlement with Kik Interactive Inc. —...

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