The US Securities and Exchange Commission (SEC) has posted a job listing for its Crypto Assets and Cyber Unit in the Division of Enforcement.
The successful candidate will be responsible for conducting investigations that involve cyber issues and crypto-asset securities, drafting subpoenas or document requests, evaluating evidence, and questioning witnesses through interviews. The salaries for the general attorney positions range from $140,830 to $259,590 per year.
The move follows the regulator’s increasing pressure on the crypto space over the past year, especially after the collapse of FTX and Silicon Valley Bank.
Gary Gensler, the SEC Chair, asked for nearly $2.4 billion in funding to investigate crypto “misconduct” on March 29th, and local regulators plan to introduce new taxes directed toward the industry. Some industry insiders worry that these regulations and taxes will “choke” the sector and prevent innovation.
However, not all regulatory officials agree with the SEC’s approach. Representative Tom Emmer called Gensler a “bad faith regulator” and questioned his methods of industry oversight.
The cryptocurrency exchange Beaxy recently shut down after the SEC filed multiple charges against the company’s founder. Additionally, Japan-based Sushi DAO is currently facing a subpoena from the SEC.
The SEC’s job listing highlights the regulator’s continued effort to regulate and supervise the crypto industry. While some industry insiders fear that regulation and taxes will stifle innovation, others believe that proper regulation will lead to greater acceptance and growth in the space.
SEC Seeks Crypto Staff
In summary the SEC’s job listing for general attorneys in its Crypto Assets and Cyber Unit highlights the regulator’s ongoing efforts to regulate and supervise the crypto industry.
With increasing pressure on the crypto space and calls for funding to investigate crypto misconduct, some fear that regulations and taxes may impede innovation. Nevertheless, the SEC remains committed to cracking down on crypto misconduct and ensuring proper regulation in the industry.