SEC requests extra $158M from federal budget to police crypto’s ‘Wild West’
Part of the funds would hire staff across SEC divisions, with one job dedicated to crypto and another to help with the increased lawsuits the agency faces.
The United States Securities and Exchange Commission is asking Congress for an extra $158 million from the federal budget next year to address “significant growth and change in our markets,” including the “Wild West of the crypto markets.”
The SEC’s March 11 Congressional Budget Justification — a document that outlines its budgetary needs for the upcoming 2025 fiscal year — is requesting $2.594 billion for 2025 — up from $2.436 billion it requested in 2024.
“Technology is rapidly transforming our markets and business models,” SEC Chair Gary Gensler wrote in the 148-page document that outlined its need for the money and included its performance report for last year.
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