The unit was created in 2017 and since then it has brought over 80 enforcement actions in cases related to fraudulent and unregistered crypto asset offerings and platforms, and has brought monetary relief of over $2 billion.
The expanded Crypto Assets and Cyber Unit will use SEC’s expertise to protect investors in the crypto market. It will focus on investigation securities law violations crypto asset offerings and exchanges, DeFi platforms, NFTs and Stablecoins.
Additionally, the unit has also brought actions against SEC registrants and public companies for failing to maintain adequate cybersecurity controls or to appropriately disclose cyber-related risks.
Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, added:
Crypto markets have exploded in recent years, with retail investors bearing the brunt of abuses in this space. Meanwhile, cyber-related threats continue to pose existential risks to our financial markets and participants. The bolstered Crypto Assets and Cyber Unit will be at the forefront of protecting investors and ensuring fair and orderly markets in the face of these critical challenges.
