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   987

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.

BTC Invesment Profitability to Exceed Traditional Assets

This conclusion was made by Binance Research team in study "What Bear Market?"; since begining of the year the BTC has grown by more than 50%, while oil by 33%
08 May 2019   321

Since the beginning of the year, Bitcoin has grown faster than traditional market assets, including oil, technology companies, real estate and gold. This conclusion was made by Binance Research in the new study "What Bear Market?"

Since the beginning of the year, the price of Bitcoin has grown by more than 50%, while oil - by 33%, tech stocks - by 18%. The price of gold in five months slipped by 1%.

Recently, however, some factors have emerged that may put pressure on the price of Bitcoin. Thus, the recovery of BTC growth slowed down somewhat amid news of a hacker attack on the popular Binance exchange itself, as a result of which 7,000 BTC ($ 40.5 million) were stolen.

Another potentially negative factor for the price of Bitcoin could be the upcoming IEO of the Bitfinex exchange, where Tether stablecoins will be used to purchase LEO tokens for $ 1 billion. It can lead to situation when large players can may actively sell BTC.