The SEC plans to add 20 positions to the Crypto Assets and Cyber Unit in the Division of Enforcement. The unit will increase to 50 dedicated positions.
"The U.S. has the greatest capital markets because investors have faith in them, and as more investors access the crypto markets, it is increasingly important to dedicate more resources to protecting them," SEC Chair Gary Gensler said in a statement.
The unit was created in 2017 and had been aggressively monitoring the $1.7 trillion unregulated industry for fraud.
The expansion of the unit will allow agents to investigate securities law violations related to:
Crypto asset offerings;
Crypto asset exchanges;
Crypto asset lending and staking products;
Decentralized finance ("DeFi") platforms;
Non-fungible tokens ("NFTs"); and