SEC's Cyber Unit to focus on blockchain

The US Securities and Exchange Commission clarifies the role of the new Cyber Unit and its views on the blockchain technology
01 November 2017   549

The US Securities and Exchange Commission (SEC) provides insight into how the Commission’s new Cyber Unit will work.

Stephanie Avakian, SEC Division of Enforcement Co-Director, sheds light on the issue, however, noting that the views are her own and not necessarily those of the SEC. 

We do think there is more we can do to align our resources with two of our key priorities – specifically retail and cyber. To be sure, we have long focused resources in both of these areas, but we think that some structural change and strategic focus will enable us to better fulfill our investor protection mission.
 

Stephanie Avakian
SEC Division of Enforcement Co-Director

On top of that, Avakian announces the creation of the Retail Strategy Task Force, which will examine how investors interact with the securities market and what risks they might encounter from bad actors therein. Additionally, the task force will develop ways to educate investors, empowering them to make more informed decisions.

The need for the Cyber Unit arises in large part from the increasing frequency with which we are seeing cyber-related misconduct affecting the securities markets, and also the increasing complexity of these cases. These cybersecurity threats come from a wide range of sources, including foreign and domestic hackers, traders and others who traffic in stolen market-moving information, prospective market manipulators, state-sponsored actors, and others. The work of these actors in many instances has been facilitated by easy access to the dark web marketplace as well as the use of digital currency, both of which make it harder to track the flow of funds involved in cyber violations.
 

Stephanie Avakian
SEC Division of Enforcement Co-Director

Finally, SEC Division of Enforcement Co-Director discusses the need to police blockchain activities.

For some of the same reasons, we are also including within the responsibility of the Cyber Unit our focus on the distributed ledger technology space ... The emerging issues presented by blockchain technology warrant a consistent, thoughtful approach – and the best way to do that is to centralize the expertise and the focus in a single unit.
 

Stephanie Avakian
SEC Division of Enforcement Co-Director

What the future has in stock for the relationships between SEC and blockchain, remains to be seen.

Swansea Hosts Blockchain and Distributed Energy Conference

The BEW'18, which will be held on February 19, 2018 in Swansea, UK, is a must-attend for people who are interested in the cutting edge of blockchain
19 February 2018   211

The Blockchain Energy Wales'18 Conference will be held on February 19, 2018 in Swansea, United Kingdom.

The conference will introduce Klenergy and their Pylon Network, which is a decentralised energy exchange platform powered by renewable energy. The BEW'18 is a must-attend for people who are interested in the cutting edge of blockchain, distributed energy, peer2peer and smart technology.

BEW conference location swanseaBEW'18 Exact Location

Location: TechHub Swansea, 221 Stryd Fawr, Swansea SA1 1NW, UK
Time: from 9AM to 1.30PM

The headline speakers include Paul Harwood, Basicincome supporter and advocate, and David Clubb, director of RUKCymru and head of digital RenewableUK.

The agenda of the conference is as follows: Blockchain technology and its application in the energy sector, future of blockchain wallet systems, buildings as power stations, building the open-source co-operation protocol for the energy sector, and more.