The SEC adds resources for cryptocurrency control

The United States Securities Market Commission (SEC) will have 20 additional officials in its unit responsible for protecting investors in cryptocurrencies and fighting cyber threats, according to the US CNMV.

In this way, the SEC’s Cyber ​​and Crypto Assets Unit will increase its staff to 50 positions.

“The United States has the best capital markets because investors have faith in them, and as more investors access crypto markets, it is increasingly important to devote more resources to protecting them,” said SEC Chairman Gary Gensler.

Since its inception in 2017, the unit has initiated more than 80 enforcement actions related to fraudulent and unregistered crypto asset offerings and platforms, resulting in monetary relief totaling more than $ 2 billion.

“By nearly doubling the size of this key unit, the SEC will be better equipped to police irregularities in the crypto markets while continuing to identify disclosure and enforcement issues regarding cybersecurity”, Gensler added.

K. Tovar

Source: Expansion