SEC expands crypto team to bolster consumer protection efforts

The U.S. Securities Exchange Commission (SEC) is looking to nearly double its crypto team to protect investors and combat violations in the crypto industry. A report unveiled this news earlier today, citing an announcement from the regulator. Reportedly, the regulator’s Crypto Assets and Cyber team, a unit of the SEC’s Enforcement Division, plans to add 20 people to its team of 30.
According to the report, the 20 additions will include investigative staff attorneys, trial analysts, and fraud analysts. SEC Chair Gary Gensler and Enforcement Director Gurbir Grewal said the hires were overdue. According to them, these hires are vital to regulating Wall Street’s newest and most popular industry.
In a statement, Gensler said the SEC’s crypto unit has successfully brought dozens of cases against those people looking to take advantage of investors in the crypto market.
He added,
By nearly doubling the size of this key unit, the SEC will be better equipped to police wrongdoing in the c

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