The US Securities and Exchange Commission (SEC) is creating a new division for the control of cryptocurrency markets and expanding staff to combat digital fraud.
In his message, the regulator declaredthat the Commission will create a new division for the control of cryptocurrency markets, as well as attract at least 50 employees to combat digital fraud.
The new division will focus on fraud prevention using crypto asset offerings, crypto asset exchanges, crypto asset lending and staking products, decentralized financial platforms, non-fungible tokens and stablecoins.
“By nearly doubling the size of this key division, the SEC will be better equipped to track offenses in the cryptocurrency markets while continuing to detect disclosures and monitor cybersecurity issues,” said SEC Chairman Gary Gensler.
According to him, the new division will pay special attention to cryptocurrency trading platforms, since most of them are based in offshore jurisdictions and operate in a gray area of regulation, without a centralized system of supervision from banks and exchanges.
Gensler said in April that the agency is weighing how it can expand the investor protections provided to users of exchanges and alternative trading platforms.
Earlier, the US Securities and Exchange Commission (SEC) added several unregistered organizations involved in the trading of cryptocurrencies to the list of “suspicious” companies.
Source: Bits
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