Meanwhile the SEC Expands its Crypto Enforcement Unit

On Monday the SEC issued a press release announcing it had added 20 new positions to its Cyber Unit, which has been renamed the Division of Enforcement’s Crypto Assets and Cyber Unit. I like the name ‘Cyber Unit’ much better, especially from a branding perspective, but more importantly this news shows concrete evidence of federal resource investment in regards to regulating and ultimately, centralizing the cryptocurrency market.

Gurbir S. Grewal, the Director of the SEC’s Division of Enforcement was quoted in the press release stating that, “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.”

I highlighted those words for obvious reasons. In the language of the SEC terms like, ‘fair and orderly markets’ allude to regulated markets. If you are an investor in Bitcoin, have no fear though, even if centralization of crypto is your biggest financial fear. A faction of crypto influencers actually think you should embrace regulation. In fact, the headline of an article written by a crypto market player and published by Nasdaq News the day after the SEC’s press release states, Regulation is No Threat to the Ethos of Crypto.

That’s kind of a bold statement, especially coming from Nasdaq. The article, if possible, should be read through an objective lens, simply because it was an opinion piece written by a guest contributor, rather than a Nasdaq News staff writer, who is the CEO of a company that provides privacy protocols for the public blockchain. He is also the founder of a Web 3.0 credit lending company that is on a mission to democratize affordable credit for under served communities, plus an award-winning international reggae and hip hop artist. In essence, he is your average crypto market superstar!

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