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SEC’s Cyber Unit to have more resources thanks to the cryptocurrency growth


Major digital currencies are growing, which is quite good for those who bought them in advance, but this is good news not only for the traders. The United States Securities and Exchange Commission’s Cyber Unit is now going to have more attention from the high management and more money to conducts anti-fraud operations. This is caused by the fact that when cryptocurrency grows, people want to invest in operations with it, and some other people are trying to cheat, which leads to an atmosphere absolutely incomparable to what was on the cryptocurrency market in the calm days of this summer. 

As one of the SEC members once said, scammers, whom he associated with roaches, always “crawl out of the woodwork and try to scam money off of investors” when they see a market opportune enough. Other law enforcement structures in America that became concerned with scammers and criminals in the cryptocurrency are the Internal Revenue Service, which successfully persuaded Coinbase to share the personal data of some users after the heated argument in court, and FinCEN (Financial Crimes Enforcement Network), which demanded multimillion charges from Alexander Vinnik, alleged money launderer and the manager of cryptocurrency exchange called BTC-e.


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