SEC Acting Inspector General Plans to Crack Down on Cryptocurrency Fraud

Odaily Planet Daily News: Katherine Reilly, the newly appointed Acting Inspector General of the US Securities and Exchange Commission (SEC), has listed cryptocurrency fraud as a top regulatory priority. According to its office's October 2024 report, cryptocurrency fraud accounted for 18% of SEC investor complaints, resulting in retail investors losing $3.96 billion in 2023. Reilly emphasized that the SEC faces a dual challenge of insufficient resources and a shortage of professional talent - the current regulations prohibiting employees from holding digital assets hinder the recruitment of technical talent. （CryptoSlate）