SEC Enforcement Director to Step Down by End of Year

Stephanie Avakian, the U.S. Securities and Exchange Commission (SEC) enforcement director who led investigations since 2017, including during the entirety of SEC's initial coin offering (ICO) crackdown, plans to leave the agency this year.

SEC said Thursday that Avakian created the Cyber Unit responsible for managing crypto-related securities violations, especially the ICO projects that attempt to raise capital without filing.
A CoinDesk review of SEC enforcement filings shows the regulator initiated at least 46 actions against ICOs during Avakian's tenure as director.
Avakian took over the Enforcement Division in June 2017. She had previously served as deputy enforcement director from June 2014.

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