Security News > 2022 > May > SEC nearly doubles cryptocurrency cop roles in special cyber unit

The US Securities and Exchange Commission intends to fill an additional 20 positions in a special unit that polices cryptocurrency fraud and other cybercrimes.

This brings the newly renamed Crypto Assets and Cyber Unit's total to 50 roles as the SEC hopes to crack down on miscreants trying to profit from growing interest in digital assets and marketplaces.

"As more investors access the crypto markets, it is increasingly important to dedicate more resources to protecting them," SEC Chair Gary Gensler said in a canned statement.

"By nearly doubling the size of this key unit, the SEC will be better equipped to police wrongdoing in the crypto markets while continuing to identify disclosure and controls issues with respect to cybersecurity."

The SEC formed the division, formerly known as the Cyber Unit, in 2017.

The expanded crypto-crimes unit will investigate securities law violations related to digital asset offerings and exchanges, lending and staking products, decentralized finance platforms, non-fungible tokens, and stablecoins.

News URL

https://go.theregister.com/feed/www.theregister.com/2022/05/03/sec_doubles_crypto_cops/