The U.S. Securities and Exchange Commission (SEC) enforcement director, Stephanie Avakian, plans to exit the organisation this year. The director was responsible for leading investigations from 2017 that included the SEC’s initial coin offering (ICO) crackdown.
On Thursday, the SEC organisation informed that Avakian was responsible for creating a Cyber Unit that managed cryptocurrency security violations. This was especially in regards to ICO-projects that raised capital without filing.
During Avakian’s tenure, a CoinDesk analysis of SEC enforcement filings shows the unit started at least 46 actions against ICOs. Avakian was the deputy enforcement director from June 2014 before she took over the Enforcement Division in June 2017.