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Fresh Off The Block: US SEC brings on 20 new officials for accelerated crypto crackdown and more

Chloe Lim
Chloe Lim5/4/2022 01:56 PM GMT+08  • 2 min read
Fresh Off The Block: US SEC brings on 20 new officials for accelerated crypto crackdown and more
SEC Chair Gary Gensler applauded the hires as overdue and key to regulating one of Wall Street's newest industries. Photo: Reuters
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Earlier on Tuesday, the US Securities and Exchange Commission (SEC) announced that it will be hiring an additional 20 enforcement staff to the Crypto Assets and Cyber unit, ramping up its efforts to curb fraudulent activity in crypto markets and the wider digital space.

"By nearly doubling the size of this key unit, the SEC will be better equipped to police wrongdoing in the crypto markets while continuing to identify disclosure and controls issues with respect to cybersecurity," SEC Chair Gary Gensler said.

According to a report by CNBC, the move will almost double its staff responsible for protecting investors in cryptocurrency markets, increasing the headcount to a total of 50 positions.

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