The head of the U.S. Securities and Exchange Commission’s (SEC) enforcement unit has asked Congress for additional resources – including to hire more people – to shore up the agency's crypto regulation efforts.
During a hearing Tuesday, SEC Director of Enforcement Gurbir Grewal told the House Financial Services Subcommittee on Investor Protection, Entrepreneurship and Capital Markets – which oversees the SEC’s enforcement efforts – there have been so many more enforcement actions against crypto companies they are straining the regulator’s nascent crypto unit.
In May, the SEC nearly doubled the size of its Crypto Assets and Cyber Unit to 50 employees, adding 20 new positions including attorneys, investigators and fraud analysts to its Washington, D.C., headquarters. But as the agency continues to ramp up its efforts to police the crypto industry – and the industry is hit with a wave of high-profile bankruptcies – Grewal says he needs more staff.
“Certainly resources are an issue...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...