The U.S. Securities and Exchange Commission (SEC) has established a Cross-Border Task Force aimed at cracking down on pump-and-dump schemes and other transnational financial frauds in crypto markets.
Chairman Paul S. Atkins announced the initiative, emphasizing the SEC’s commitment to investor protection. The task force will target market manipulation by foreign companies, particularly in regions like China, where regulatory enforcement can be challenging.
Beyond companies, the SEC will scrutinize auditors, underwriters, and other market intermediaries facilitating suspect access to U.S. capital markets. Margaret A. Ryan, Director of the Division of Enforcement, said the task force will leverage its expertise to address manipulation and strengthen cross-border enforcement.
The formation of this group aligns with the SEC’s broader crypto regulatory strategy, which seeks to balance innovation with investor safety. With scams still prevalent in global crypto markets, the task force marks a more aggressive stance against fraud spanning multiple jurisdictions.
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