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.
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SEC to hire more crypto cops to fight digital frauds
“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.”
