Gary Gensler’s SEC Requests $2.6 Billion to Crackdown on Crypto

Thursday, 21 March 2024, 12:00
The SEC's proposed budget of $2.6 billion for 2025 indicates a significant effort to expand supervision over the cryptocurrency industry. This substantial sum aims to enhance the oversight of digital assets by the SEC. Gary Gensler's leadership reflects a decisive regulatory stance towards the burgeoning crypto market.

Overview

The US Securities and Exchange Commission (SEC) led by Gary Gensler is seeking a $2.6 billion budget for the 2025 fiscal year to strengthen oversight of the cryptocurrency industry. The proposed budget highlights the agency's commitment to enhancing its workforce and regulatory control in the crypto market.

Enhancing Oversight

  • Gary Gensler's Push: The SEC's request for $2.6 billion signals a proactive approach to regulating digital assets.
  • Regulatory Fervor: The SEC aims to tackle noncompliance and speculative practices in the crypto sector.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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