SEC Recruits 20 Staff to Bolster Crypto Grip

• The US SEC will recruit an additional 20 staff to its Crypto Assets and Cyber team.
• Open positions include investigative staff attorneys, trial lawyers, and fraud analysts.
• Meanwhile, the news did not sit well with the crypto community.

The US Securities and Exchange Commission (SEC) announced that it will recruit up to 20 staff in its Crypto Assets and Cyber team. This means that should the 20 slots be taken, the said division will now have up to 50 experts.

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The job vacancies include investigative staff attorneys, trial lawyers, and fraud analysts. According to the watchdog, this move will bolster its protection of investors from cybersecurity and crypto-related crimes.

SEC Secretary Gary Gensler said:

“By nearly doubling the size of this key unit, the SEC will be better equipped to police wrongdoing in the crypto markets while continuing to identify disclosure and controls issues with respect to cybersecurity.”

However, the news did not sit well with the crypto community, particularly with those that support Ripple. Jeremy Hogan, a lawyer who provides insights regarding the ongoing SEC vs Ripple lawsuit, commented via a tweet.

Specifically, as per Hogan, the SEC needs to provide better clarity regarding “abuse” through regulations. He also questioned why the SEC is not prioritizing the prosecution of fraud against retail crypto investors.

In other news, Ripple has recorded an 8x year-on-year growth in its On-Demand Liquidity (ODL) volume. For those who may not be aware, ODL functions similarly to a cryptocurrency exchange, although it has some technical differences from the latter. 

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