The SEC announced May 2 that it is nearly doubling the size of the unit responsible for protecting investors in crypto markets and from cyber related threats. The newly renamed Crypto Assets and Cyber Unit, which is part of the Division of Enforcement will now have 50 staff members.
The SEC said the expanded unit will "ensure investors are protected in the crypto markets, with a focus on investigating securities law violations related to:
Crypto asset offerings
Crypto asset exchanges
Crypto asset lending and staking products
Decentralized finance (DeFi) platforms
Non-fungible tokens (NFTs)
These two events in the past week, coming on the heels of President Biden's March 9, 2022, executive order outlining a "whole-of-government" approach to examining a broad range of potential risks associated with the dramatic growth in digital assets, including cryptocurrencies are part of a larger continuing trend of increased awareness of crypto and the government's sprint to catch up.