Regulators in the United States have been putting pressure on the crypto space for the past year, even more so in light of the demise of FTX and the collapse of Silicon Valley Bank (SVB).
Now, according to a job posting on the official government website, the US Securities and Exchange Commission is looking to hire general counsel in New York, San Francisco, California and Washington DC for its Crypto Assets and Cyber Unit in your Compliance Division.
The Division of Enforcement – Crypto Assets and Cyber Unit seeks to hire General Attorneys in New York, NY; San Francisco, CA; and Washington, DC. For more information and to apply, click here: https://t.co/OI6YQk5doI.
— SEC Careers (@SEC_Careers) April 10, 2023
Enforcement Division – Crypto Assets and Cyber Unit Seeks to Hire General Counsel in New York, NY; San Francisco, CA; and Washington, DC. For more information and to apply, click here:
The announcement details that part of the role’s duties will include conducting “complex and rapid investigations” related to crypto asset values and cyber issues. Other tasks include drafting subpoenas or document requests, questioning witnesses through interviews, evaluating evidence, and more.
Salaries for the General Counsel position within the crypto asset enforcement division range from $140,830 to $259,590 per year.
This announcement comes shortly after SEC Chairman Gary Gensler called for nearly $2.4 billion in funding on March 29 to pursue “misconduct” in the cryptocurrency arena.
In the last year, US regulators have been cracking down on the cryptocurrency community.
Local regulators plan to introduce new industry-targeted taxes that have some industry insiders wondering if these and other regulations will “choke” the industry and impede much-needed innovation.
Recently, Beaxy Crypto Exchange Shut Down After SEC Filed Multiple Charges Against Company Founder. Japan-based decentralized autonomous organization (DAO) Sushi is also facing an SEC subpoena.
However, not everyone in regulatory authority positions agrees with the SEC’s approach. Congressman Tom Emmer called Gensler a “bad faith regulator” and questioned his methods of oversight of the sector.
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