WASHINGTON—The U.S. Securities and Exchange Commission is adding 20 new positions aimed at protecting investors in cryptocurrency markets from cyber-related threats.
The SEC said that the newly named Crypto Assets and Cyber Unit, formerly known as the Cyber Unit, in the Division of Enforcement, will grow to 50 dedicated positions, Bank Info Security reported.
"The U.S. 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," says SEC Chair Gary Gensler.
Gensler added that the dedicated unit has “successfully brought dozens of cases against those seeking to take advantage of investors in crypto markets.”
"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," Gensler added.
The SEC said that the addition of 20 new positions to the unit will boost the ranks of its supervisors, investigative staff attorneys, trial counsels and fraud analysts in the agency's headquarters in Washington, and in other regional offices, Bank Info Security noted.
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