SEC Intensifies Crypto Crackdown With Beefed-Up Team

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By Elise Hansen (May 3, 2022, 7:00 PM EDT) — The U.S. Securities and Exchange Commission said Tuesday it will nearly double the size of its cryptocurrency and cybersecurity enforcement unit in an effort to tamp down on fraud and noncompliance in the booming digital asset industry.

The SEC said the Division of Enforcement’s Crypto Assets and Cyber Unit will balloon from 30 positions to 50. SEC Chair Gary Gensler, who has compared cryptocurrency markets to the “Wild West,” said the expanded team will help the agency crack down on bad behavior in the space.

“By nearly doubling the size of this key unit, the SEC will be better equipped to…

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