SEC Appoints New Blockchain Supervisor

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United States Securities and Exchange Commission (SEC)appointed Christina Littman to the post of Head of Cybersecurity, which oversees the initial coin offer (ICO) and the use of blockchain technology.

Littman took over the position of Robert Cohen, whomoved from the SEC to the law firm Davis Polk &amp; Wardwell in August 2019. Cohen has led several legal cases involving illegal cryptocurrency trading. In particular, he represented the prosecution in proceedings against the blockchain startup Kik Interactive, which sold unregistered securities during an ICO.

Christina began working for the Commission in 2010.She served as an attorney on the Financial Crimes Team and served as general counsel to SEC Chairman Jay Clayton on digital asset regulation and market governance matters. Clayton noted Littman's excellence: &#8220;Innovative thinking and extensive experience with the Commission have made Christina an invaluable advisor and, most importantly, a tireless advocate for the rights of American investors. She will be a great head of cybersecurity and will continue to work in this ever-evolving field.

SEC Cybersecurity Division was established inSeptember 2017. The main task of specialists is to disclose cybercrimes, schemes of market manipulation and offenses committed using darknet. Stephanie Avakyan, Co-Director of the Law Enforcement Commission, believes that cybercrime and threats from the dark side of the Internet are the main risk factors for investors and participants in the securities market. In her opinion, the Department of Cybersecurity is expanding the government’s ability to detect and investigate hacker attacks and therefore is included in the list of national agencies that carry out especially important tasks.