October 1, 2022

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 as Robert Cohen, whomoved from SEC to Davis Polk & Wardwell Law Firm in August 2019. Cohen has led several cryptocurrency trafficking lawsuits. In particular, he represented the prosecution in a lawsuit against blockchain startup Kik Interactive, which sold unregistered securities during the ICO.

Christina began working in the Commission in 2010. She served as a lawyer in the Financial Crimes Unit, and also served as Senior Advisor to SEC Chairman Jay Clayton on Digital Asset Management and Market Management. Clayton noted Littman's high professionalism: “Innovative thinking and extensive experience in the Commission made Christina an invaluable adviser and, most importantly, a tireless advocate for the rights of American investors. She will become a remarkable head of the Department of Cybersecurity and will continue her work in this constantly 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.

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