US SEC seeks to expand its Crypto Assets and Cyber Unit

#Blockchain #Cryptocurrencies

Regulators in the United States have been piling on the pressure on the crypto space over the last year, even more so in light of the demise of FTX and collapse of Silicon Valley Bank.

Now, according to a job posting on the official careers website for the U.S. government, the Securities and Exchange Commission is seeking to hire general attorneys in New York, New York; San Francisco, California; and Washington D.C. for its Crypto Assets and Cyber Unit in its Division of Enforcement.

Part of the job’s duties will include conducting “complex, fast-moving investigations” involving crypto-asset securities and cyber issues. Other duties include drafting subpoenas or document requests, questioning witnesses through interviews, evaluating evidence and more.

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Salaries for the general attorney positions range from $140,830 to $259,590 per year.

The announcement comes shortly after Chair Gary Gensler asked for nearly $2.4 billion in funding for the purpose of chasing down crypto “misconduct” on March 29. 

Meanwhile, local regulators plan to introduce new taxes directed toward the industry, which has some industry insiders wondering if those and other regulations will “choke” the sector and prevent innovation.

Related: Gary Gensler finds new audience for his crypto skepticism: the US Army

Recently, the Beaxy cryptocurrency exchange shuttered after the SEC filed multiple charges against the company’s founder. Japan-based Sushi DAO is also facing a subpoena from the SEC.

However, not everyone in positions of regulatory authority is on board with the SEC’s approach. Representative Tom Emmer called Gensler a “bad faith regulator” and questioned his methods of industry oversight.

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