SEC Doubling Efforts in Anti-Crypto Scam Chase with New Hirings
The U.S. Securities and Exchange Commission (SEC) is planning to bring another 20 enforcement staff on board to safeguard investors from crypto scams and other threats.
The dedicated unit will be looking at a headcount of 50 after the hirings dedicated to chase securities law violations in fields like coin offerings, lending, non-fungible tokens (NFTs) and decentralized finance (DeFi).
The unit has been active since 2017 and enacted enforced in more than 80 cases for for fraudulent and unregistered offerings,.
The SEC looks to extend its control to DeFi, which holds new regulatory risks. The agency is further reviewing whether NFT’s could fall under its scope.
Recent SEC proposals have indicated it could extend enforcement action to DeFi, which poses new regulatory risks. There are also reports that the agency is looking into whether NFTs should fall under its responsibility.
SEC Commissioner Hester Peirce, dubbed ‘Crypto Mom’ by the industry, took to Twitter on Tuesday in opposition to the strengthening of the regulatory agency’s crypto enforcement squad.
The SEC is a regulatory agency with an enforcement division, not an enforcement agency. Why are we leading with enforcement in crypto?
— Hester Peirce (@HesterPeirce) May 3, 2022
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Source: igaming
