US Securities Commission Requests Increase in Budget to Regulate Crypto Sector

Liputan6.com, Jakarta – The US Securities and Exchange Commission (SEC) submitted a budget request for 2025. It is known that part of the proposed budget will be allocated to supervise and regulate the crypto sector.

“We have seen a wild crypto market, full of non-compliance. “As police ready to face challenges, we must be able to face adversaries that match bad actors,” stressed SEC Chairman Gary Gensler.

Launch Bitcoin.com, Saturday (23/3/2024), Gensler explained that his party submitted a budget request for the 2025 fiscal year (FY) of USD 2.59 trillion. That figure is up from the USD 2.44 trillion requested by 2024. Gensler said there has been a dynamic shift in communication to and among investors, from Reddit forums to celebrity influencers.

“Furthermore, we have seen the crypto market in Wild West territory, rife with non-compliance, where investors have put their hard-earned assets at risk in highly speculative asset classes,” he said.

The SEC's Division of Examinations (EXAMS) is seeking 23 new positions for Fiscal Year 2025, the report states, adding that the increases will strengthen the division's ability to address critical and evolving risks. Such as risks related to market infrastructure resilience, cyber and information security, as well as crypto assets and new technology.