U.S. SEC adds 20 new employees in fight against crypto fraud

The U.S. Securities and Exchange Commission (SEC) is adding 20 positions to its enforcement unit for crypto markets.

The new employees should ramp up the SEC’s push to curb fraudulent activities in the crypto space.

The securities regulator said the division will be renamed the “Crypto Assets and Cyber Unit” and will have a total of 50 employees.

The SEC said the revamped unit will focus on preventing fraud that uses crypto asset offerings, crypto asset exchanges, crypto asset lending and staking products, decentralized finance platforms, non-fungible tokens and stablecoins.