Gary

Reported by Coindesk, Securities and Exchange Commission (SEC) Chairman<a target="_blank" href="https://tokeninsight.com/en/news?title=gary%20" rel="noopener noreferrer nofollow"> Gary Gensler </a>made a pitch for tens of millions of dollars in additional funding for his agency’s multi-billion budget at the U.S. Senate Committee on Appropriations on Wednesday, telling lawmakers the agency must expand to, among other things, protect investors against a crypto industry “rife with noncompliance.” 
The SEC, which has undertaken wide-ranging efforts to crack down on crypto crimes, is seeking an additional $72 million to add dozens of additional full-time staff members to its roster, Gensler said. A bipartisan bill the committee approved last week to bankroll the SEC $2.364 billion for fiscal year 2024 is just enough to “support currently authorized staffing levels given inflation,” the chairman argued. 
The SEC employed 4,685 people in 2023, with roughly half focusing on enforcement and examinations duties, according to data Gensler shared in his remarks. The additional funding would help the agency add 170 positions to its teams, in addition to providing full-year funding for staff members hired in 2023, potentially bringing the SEC’s total full-time equivalent to 5,139 employees. 
&nbsp; 
<a target="_blank" href="https://tokeninsight.com/en/cryptocurrencies" rel="noopener noreferrer nofollow">TokenInsight</a> is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email <a href="mailto:news@tokeninsight.com" rel="noopener noreferrer nofollow">news@tokeninsight.com</a>. Your trust will be well respected.

SEC Gary Gensler Asked for Additional Funding to Protect Investors Against Crypto Industry

TokenInsight

Other articles published on Jul 20, 2023

Why is Chainlink (LINK) Rising? Who Is Behind the 18% Increase?

Ripple hopes banks will adopt XRP

Cardano Begins Countdown to Mithril Mainnet Release, Why Mithril?

Crypto Spot Volumes Goes Parabolic Post Ripple Ruling

Chinese Police Uncover $54 Million USDT Money Laundering Scheme.

Altcoin Expert Draws Attention to Four Altcoins on Binance: Are these Four Altcoins Ready to Expl...

Join our free newsletter for daily crypto updates!