Crypto News

SEC will almost double its crypto asset and cyber unit in the wake of new hires

The US Securities and Exchange Commission (SEC) is hiring 20 more employees for the newly rebranded Crypto Assets and Cyber ​​Unit, formerly known as the Cyber ​​Unit.
On Tuesday, SEC Chairman Gary Gensler said in an official announcement that the new hires will help protect investor interest in the emerging crypto markets.

“The US has the largest capital markets because investors trust them, and as more investors gain access to the crypto markets, it becomes more important to allocate more resources to protect them.

The Division of Enforcement’s Crypto Assets and Cyber ​​Unit has successfully brought dozens of cases against those attempting to exploit investors in crypto markets. By nearly doubling the size of this key entity, the SEC will be better equipped to monitor misconduct in the crypto markets while continuing to identify cybersecurity-related disclosure and control issues.”

Per the announcement, the new and improved Crypto Assets and Cyber ​​Unit will protect crypto investors and address securities law violations related to crypto asset offerings, crypto asset exchanges, crypto asset lending and staking protocols , decentralized finance platforms (DeFi) and non-fungible tokens (NFTs) and stablecoins.

says SEC Division of Enforcement Director Gurbir S. Grewal of the new, improved unit,

“Crypto markets have exploded in recent years, with retail investors bearing the brunt of abuse in this space. Meanwhile, cyber threats continue to pose existential risks to our financial markets and participants.

The strengthened Crypto Assets and Cyber ​​Unit will be at the forefront of protecting investors and ensuring fair and orderly markets in the face of these critical challenges.”
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Source: Crypto News Deutsch

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