US SEC Acting Inspector General Plans to Crack Down on Cryptocurrency Fraud

Odaily News Katherine Reilly, the new acting inspector general of the U.S. Securities and Exchange Commission (SEC), has listed cryptocurrency fraud as a top regulatory priority. Her office's October 2024 report showed that cryptocurrency fraud accounted for 18% of the total SEC investor complaints, and retail investors lost $3.96 billion in 2023. Reilly emphasized that the SEC faces the dual challenges of insufficient resources and a shortage of professional talent - the current regulations prohibiting employees from holding digital assets have hindered the recruitment of technical talent. (CryptoSlate)