Crypto News – The US Securities and Exchange Commission (SEC), led by Gary Gensler, is making headlines with its request for a $2.6 billion budget for the 2025 fiscal year. This large amount is intended to improve the SEC’s regulation of the cryptocurrency industry.
2.6 Billion Dollar SEC Budget: Crypto Oversight to Expand Under Gary Gensler
Transaction fees will be used to offset the budget, as stressed by Gensler, guaranteeing a deficit-neutral strategy. The SEC specifically intends to strengthen its Division of Examinations in 2025 by adding 23 additional positions. By doing this, the intricacies of the cryptocurrency market are directly addressed.
We’ve seen the Wild West of the crypto markets, rife with noncompliance, where investors have put hard-earned assets at risk in a highly speculative asset class. Such growth and rapid change also mean more possibility for wrongdoing. As the cop on the beat, we must be able to meet the match of bad actors,
the SEC
SEC Moves Much More Strategically Due to Gensler
The SEC tightened its regulations when Gensler was in charge. It has also started well-known legal actions against well-known cryptocurrency exchanges, such as Coinbase, Kraken, and Binance, with an emphasis on unregistered securities trading. As a result, the crypto business is now subject to an increased level of regulation due to the SEC’s stringent actions, which have prompted an unprecedented number of enforcement proceedings.
Additionally, the second-biggest cryptocurrency, Ethereum, is the target of an aggressive legal campaign by the SEC to be classified as a security. In order to complete this project, the Ethereum Foundation has required businesses to provide a great deal of documentation. Thus, the aggressive strategy of the SEC is to increase its comprehension of and authority over the cryptocurrency landscape.
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