US SEC to Double Positions to Protect Crypto Investors

The US Securities and Exchange Commission (SEC) is going to double the posts which are accountable to protect cryptocurrency investors. Recently, SEC announced that it has thought for 20 positions and making it a total of 50 in the crypto assets and cyber unit for the security of the investors.

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The Crypto assets and cyber unit basically investigate the securities violations related to crypto-asset offerings, crypto-asset exchanges, lending, and staking products, decentralized platforms, and NFTs.

Now the new sectors added are analytics, investigative staff attorneys, and trial lawyers. SEC chair Gary Gensler has been so relentless to regulate the crypto industry and protecting the retail investors who can’t comply with the SEC law.

Gensler also applauded the Crypto Assets and Cyber Unit saying that it has successfully brought many cases against those who tried to take advantage of the investors. and with more key members it will be well equipped and will work in better progress.

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The Crypto Assets and Cyber Unit has already tackled violation cases of more than 80 which are related to fake and unrecorded crypto securities offerings. This resulted in $2 billion of monetary relief.

Since his first day as Chair of SEC Gensler has been clear about his vision that cryptocurrency is one of his top priorities.

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Anupama Das

An active reader and follower of news. A budding journalist tries to spread authentic news to people.

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