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The SEC said it plans to add 20 investigators and litigators to its Crypto Assets and Cyber Unit, which was created in September 2017 when regulators noticed a surge of new digital coins sold to the public. The commission has positioned itself as the chief government bulwark against fraud in the $1.7t market, which so far has sidestepped most federal consumer- and investor-protection rules.
“Crypto markets have exploded in recent years, with retail investors bearing the brunt of abuses in this space,” SEC Enforcement Director Gurbir S. Grewal said in a written statement. “The bolstered 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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