SEC chairman Gary Gensler says the move is in response to the growing number of investors gaining exposure to crypto.
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The SEC has announced that it's doubling the size of a special unit that aims to protect investors in the crypto markets.
Twenty new positions are being opened — and this department is now being renamed as the Crypto Assets and Cyber Unit.
SEC chairman Gary Gensler says the move is in response to the growing number of investors gaining exposure to crypto.
It's hoped this unit will now be better equipped to police wrongdoing in the crypto markets.
This SEC division has already brought more than 80 enforcement actions over fraudulent and unregistered crypto asset offerings in the past five years — and has recovered more than $2 billion.
Officials claim retail investors have ended up bearing the brunt of abuses in this space — and companies need to be held accountable when cyber-related incidents take place.
