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- Steve Muchoki
Steve Muchoki
- Sep 05, 2025 18:58 UTC
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SEC Chair Paul Atkins Unveils Cross-Border Task Force to Combat Fraud
The newly formed Cross-Border Task Force will investigate federal securities law violations related to foreign-based companies.
The U.S. SEC and the CFTC have been working together to facilitate international web3 firms venturing into the U.S. market.
The chairman of the United States Securities and Exchange Commission (SEC) Paul Atkins, announced the launch of a new task force. The U.S. SEC announced the formation of the Cross-Border Task Force to strengthen the efforts by the Division of Enforcement in fighting cross-border crime related to foreign-based companies.
According to Atkins, the newly formed Cross-Border Task Force will work to consolidate the SEC’s investigative efforts to curb cross-border fraud. Some of the crimes that the newly formed task force will deal with include pump-and-dump schemes in addition to ramp-and-dump.
“We welcome companies from around the world seeking access to the U.S. capital markets. But we will not tolerate bad actors – whether companies, intermediaries, gatekeepers or exploitative traders – that attempt to use international borders to frustrate and avoid U.S. investor protections,” Atkins noted.
U.S. SEC and CFTC Steps Up Crypto Regulation
The U.S. SEC has in the recent past stepped up its efforts to regulate the cryptocurrency market in line with President Trump’s agenda. Earlier on Friday the U.S. SEC issued a joint statement with the CFTC under acting chair Caroline Pham to help scale the web3 space in the United States legally.
Notably, the joint venture between the SEC and the CFTC announced a roundtable on regulatory harmonization, which will be held on September 29, 2025. Moreover, the SEC and the CFTC have been mandated by President Donald Trump to help strengthen the country’s leadership in digital financial technology.
“Today, we are ready to usher in a new era of innovation by recalibrating our posture toward regulatory cooperation. By harmonizing our regulatory frameworks, leveraging exemptive authorities, and collaborating on innovative products and trading platforms, the two agencies could unlock new opportunities for market participants, foster innovation, and solidify the United States as the global leader in crypto and blockchain technology,” the report noted.
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