The chief of the U.S. Securities and Exchange Commission (SEC) Division of Enforcement's Cyber Unit, Robert A. Cohen, has stepped down from his role at the commission.

According to an official announcement by the SEC, Cohen served because the 1st chief of the Cyber Unit since its inception in 2017.

The Cyber Unit is answerable of securities violations touching on cryptocurrency and digital assets, additionally to cyber-related commerce violations and cybersecurity disclosures and procedures.

During his time leading the unit, Cohen supervised a number of investigations, as well as a lawsuit against the startupKik for running an unregistered $100 million token offering, yet as charging DJ Khaled and also the boxer Floyd Mayweather Jr. for unlawfully advertising an initial coin offering.

Regarding Cohen’s work as chief of the Cyber Unit, the Division of Enforcement’s co-director Steven Peikin said:

"The Cyber Unit has been a good success underneath Rob's strategic leadership [...] shortly once its creation, the Cyber Unit forthwith began filing impactful cases that defend investors and demonstrate the SEC's ability to reply nimbly to new and tough challenges.”

SEC-approved token offerings

As antecedently reported by Top Market Group, the SEC recently gave the blockchain-based startupBlockstack the green light to issue a $28 million public token providing underneath Regulation A+, that is apparently was a primary for token offerings. Blockstack founders Muneeb Ali and Ryan Shea noted that it took the corporate more or less ten months and $2 million to urge approval from the SEC.

The SEC conjointly approved a gaming-related token offering, saying that they failed to qualify as a security.

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