SEC nearly doubles size of crypto and cyber enforcement unit

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Written by , Senior Journalist Aimee Chanthadavong Senior Journalist

Since completing a degree in journalism, Aimee has had her fair share of covering various topics, including business, retail, manufacturing, and travel. She continues to expand her repertoire as a tech journalist with ZDNet.

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The US Securities and Exchange Commission (SEC) has announced that it will bolster the size of its enforcement units that target crypto assets and cyber-related threats.

The unit, formerly known as the cyber unit, will be renamed as the crypto assets and cyber unit and will continue to reside in the Division of Enforcement. It will also gain 20 additional team members, taking the unit’s total headcount to 50.

These additional roles will include fraud analysts, supervisors, investigative staff attorneys, and trial counsels, and are expected to focus on investigating violations related to crypto asset offerings, exchanges, lending and staking productions, as well as decentralized finance platforms, non-fungible tokens, and stablecoins.

“The US has the greatest capital markets because investors have faith in them, and as more investors access the crypto markets, it is increasingly important to dedicate more resources to protecting them,” SEC chair Gary Gensler said.

“The Division of Enforcement’s Crypto Assets and Cyber Unit has successfully brought dozens of cases against those seeking to take advantage of investors in crypto markets.

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