The chairman of the SEC has requested an additional budget of $72 million to enhance regulation in the field of cryptocurrencies and other areas.
2023-07-20 00:33
Odaily News - Gary Gensler, Chairman of the U.S. SEC, proposed an additional budget funding of $72 million for the SEC during a hearing at the Senate Appropriations Committee on Wednesday. Gensler stated that the SEC must expand its scope, including protecting investors from the impact of the cryptocurrency industry that is "rife with misconduct."
In his speech, Gensler said, "We are witnessing the Wild West of the crypto market, filled with misconduct, where investors put their hard-earned assets at risk in highly speculative asset categories."
In 2023, the SEC plans to hire 4,685 employees, with approximately half dedicated to enforcement and inspections. In addition to funding for the newly hired staff for the year 2023, the additional funds will also help the SEC add 170 positions to its team, potentially bringing the total number of full-time employees at the SEC to 5,139. (CoinDesk)
In his speech, Gensler said, "We are witnessing the Wild West of the crypto market, filled with misconduct, where investors put their hard-earned assets at risk in highly speculative asset categories."
In 2023, the SEC plans to hire 4,685 employees, with approximately half dedicated to enforcement and inspections. In addition to funding for the newly hired staff for the year 2023, the additional funds will also help the SEC add 170 positions to its team, potentially bringing the total number of full-time employees at the SEC to 5,139. (CoinDesk)
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