SEC Requests an Additional $158 Million from the Federal Budget for Cryptocurrency Regulation in 2025
🏢 The U.S. Securities and Exchange Commission (SEC) is asking Congress to allocate an additional $158 million from the federal budget next year for the regulation of the rapidly growing and risky world of cryptocurrencies.
🔍 The SEC stated that the funds would be used to hire additional staff, including:
1️⃣ A position specifically focused on addressing issues and complaints related to cryptocurrency fraud.
2️⃣ Two additional legal positions to deal with the increasing number of lawsuits the Commission faces.
3️⃣ Another 23 positions in the compliance examination division to strengthen its ability to combat "evolving critical risks," including "crypto assets and new financial technologies."
😁 Somehow, we have the feeling that the increase in staff won't lead to fewer court cases.