SEC almost doubles size of unit dedicated to shield crypto investors from cyber threats

As part of its goal to protect cryptocurrency investors from cyber-related threats, the U.S. Securities and Exchange Commission on Tuesday has nearly doubled the size of the Division of Enforcement's Crypto Assets and Cyber Unit, according to a release. The addition of 20 positions in the Crypto Assets and Cyber Unit, formerly known as the Cyber Unit, will allow the SEC to "be better equipped to police wrongdoing in the crypto markets while continuing to identify disclosure and controls issues with respect to cybersecurity," said SEC Chair Gary Gensler. The unit will focus on investigating securities law violations related to crypto offerings, exchanges, lending and staking products, decentralized finance platforms, non-fungible tokens and stablecoins, according to the release. Furthermore, "crypto markets have exploded in recent years, with retail investors bearing the brunt of abuses in this space," said Gurbir S. Grewal, director of the SEC’s Division of Enforcement. "Meanwhile, cyber-related