United States SEC requests $2.6bn to crackdown on Crypto 

According to BeinCrypto, the proposed budget by the regulatory body highlights the agency’s commitment to expanding its workforce targeting about 5000 positions so as to be in a healthy position to police digital assets and emerging technologies.  

Gensler has explained that much of the budget would be offset by transaction fees ensuring a deficit-neutral approach.  

In Specific terms, the US SEC led by Gensler is looking to increase its Division of Examinations with 23 new roles in 2025. This move directly addresses the complexities of the crypto market.  

The SEC’s rigorous actions over the years have led to a record number of enforcement measures, intensifying the regulatory atmosphere in the crypto industry.  

In response to the rising regulatory measures by the SEC in its industry, Crypto entities are actively seeking regulatory clarity and pushing back at the stringent measures aimed at it.  

Pro-crypto organizations like the Crypto Council for Innovation (CCI), Paradigm, and the Chamber of Digital Commerce are springing up in the industry demanding regulatory clarity that accommodates the unique aspects of cryptocurrency.  

The Crypto industry’s political clout is on the rise with significant funding going to various Pro Crypto Political campaigns reflecting the industry’s determination to create a regulatory atmosphere that supports innovation and ensures consumer protection.