There’s a new sheriff in town. Kristina Littman, former senior advisor to the previous SEC Chairman Jay Clayton, will now take over from Robert A. Cohen as the new Chief of the Division of Enforcement’s Cyber Unit.
There’s a new sheriff in town. Kristina Littman, former senior advisor to the previous SEC Chairman Jay Clayton, will now take over from Robert A. Cohen as the new Chief of the Division of Enforcement’s Cyber Unit.
With scam ICO’s being targeted by fresh and intelligent people such as Mrs. Littman, we could see legitimate ICO’s finally take the spotlight. And once we have actual companies creating proper products -- then we’ll have the mass adoption we’ve been waiting for.
The Cyber Unit is more focused, however, on cryptocurrencies than general cyber crimes. It was founded in 2017 to protect American investors from malicious actors in the blockchain and cryptocurrency industry.
Robert Cohen was the first chief. He did a few notable things -- including and especially putting forth actions against ICO’s which the SEC thought were fraudulent. One of the most famous examples being the Kik Interactive ICO which Mr. Cohen and the SEC accused of engaging in an unregistered $100-million securities offering. The other notable case is Telegram’s ICO, which also caught the SEC’s attention. Both cases will be inherited by Mrs. Littman.
She takes the wheel after Mr. Cohen leaves to be under a partner position at corporate law firm Davis Polk & Wardwell LLP – a law firm that represented such megalith clients as Coinbase, as well as major financial and crypto companies.
Mrs. Littman holds a J.D. and an M.B.A. from the School of Law at Rutgers University. Shen then practiced at a law firm specializing in corporate and securities litigation. Afterward she joined the SEC as a staff attorney in 2010. Quickly rising through the ranks she became a senior advisor to SEC Chairman Jay Clayton in the summer of 2017. It’s that role that gave her most of her experience in cryptocurrencies since she advised Clayton on regulatory and policy relating to cryptocurrencies and digital assets, the SEC said.
Get More Knowledge: The Best Crypto Services You Should Use
“Kristy’s innovative thinking and extensive experience within the Commission have made her an invaluable advisor and, most importantly, a tireless defender of America’s investors,” said Clayton. “She will be an excellent leader for the Cyber Unit as it continues its work in this critical and continually evolving area.”
Littman's varied experience "as an investigator, a trial lawyer, and a senior advisor – have prepared her well to lead the Cyber Unit,” said Steven Peikin -- who is currently the co-director of the Division of Enforcement -- another important aspect of the SEC’s concentration on the crypto sphere.
These developments will no doubt affect our crypto community in meaningful ways. Our industry is ever-growing, changing, and I dare-say -- improving.
With scam ICO’s being targeted by fresh and intelligent people such as Mrs. Littman, we could see legitimate ICO’s finally take the spotlight. And once we have actual companies creating proper products -- then we’ll have the mass adoption we’ve been waiting for.
