The U.S Securities and Exchange Commission looking additional programmers, as they're having difficulties to explain algorithms involved in today's investments.
On Monday at Israel Securities Authority, SEC Commissioner Robert Jackson advice that the booming growth of digital assets and computer-driven technology investment are the key challenge for regulators trying to keep with advance technology and Jackson want to change the plan that want to have an agency that has a ratio of 1:1 with 2,000 lawyers and 2,000 programmers.
"I know what it looks like when a human being commits fraud. It’s a lot harder to detect when an algorithm defrauds the investor. But investors deserve no less protection simply because money is being moved around by an algorithm.”
In addition, Jackson says cryptocurrencies are "exciting but come with risks" As they're having challenges for regulators to understand the said technology, the agency can create a legal framework for space, put an advance industry association that can be caught scammers and fraudsters, while investors must protect.
On Jan 11, 2018, U.S President Donald Trump appointed SEC Jackson, and now he announced his intention to leave as he completed his term working in the US SEC for almost 2 years. (https://www.sec.gov/news/public-statement/clayton-statement-commissioner-robert-j-jackson-011620)