NFT Collection The Superlative Secret Society Price, Stats, and Review
Australian Police Seize Hacker’s Bitcoin, Mansion and Luxury Car
Metaplanet scoops 1,004 Bitcoin in 2nd-biggest buy ever
Coinbase hit with wave of lawsuits over customer data breaches
UK Tightens Grip on Crypto Transactions with New Data Rules
All the reasons why Bitcoin’s price might be set for an explosive rally
Crypto Market Faces Key Rejections and Support Tests: Bitcoin, XRP, and Chainlink in Focus
Bitcoin Maxi Says Long-Term BTC CAGR To Drop Under 10%, Here’s Why
Best Cryptos For Beginners: Troller Cat Sets Up for 44x Run While Pudgy Penguins and Official Melania Stumble
‘Sats’ vs ‘bits’ debate reignites amid proposal to change Bitcoin base unit
SUI and XLM at Critical Technical Levels: Here’s What Needs to Happen Next
Bitcoin’s Rising Transaction Fees Signal Increased Demand for Blockspace
Metaplanet Buys Another $104M in Bitcoin, Bringing Holdings to 7,800 BTC
Bitcoin blasts past $106K: is Trump’s remittance tax bill crypto’s new rocket fuel?
Metaplanet Expands Bitcoin Holdings to 7,800 With Acquisition of 1,004 BTC
Why Are BTC, ETH, XRP & DOGE Crashing Today?
Dogecoin (DOGE) Struggles to Sustain Gain as Meme Coin Mania Cools Off
Coinbase faces lawsuit over alleged breaches of Illinois biometric privacy law
XRP sideways structure holds as traders eye May 19 CME futures launch as next catalyst
Ethereum revisits December 2024’s market signs – Here’s what it means for you
Brett Was the Early Win—Now BTFD Coin’s $0.0002 Presale and Projected 8900% ROI Might Be Your Only Shot Left
Bitcoin Approaches Critical Threshold as Analysts Eye Market Turning Point
Russian Court Orders Detention of Crypto Game Co-Founder on Fraud Charges
Metaplanet Stock Jumps 15% On Fresh 1,004 BTC Purchase
XRP Price Struggles to Hold Ground — Breakdown or Breather?
No impact from Ripple ruling? SEC chair cites risks from crypto in budget request
Gary Gensler cited the “Wild West of the crypto markets” that was “rife with noncompliance” in requesting more than $2.4 billion for the commission’s 2024 fiscal budget.
United States Securities and Exchange Commission (SEC) Chair Gary Gensler has called for “new tools, expertise, and resources” aimed at addressing misconduct in the crypto space in the regulator’s 2024 budget request.
In prepared testimony for a July 19 hearing of the Subcommittee on Financial Services and General Government with the U.S. Senate Appropriations Committee, Gensler said he supported the Biden administration’s request allocating more than $2.4 billion to the SEC for the 2024 fiscal year. The SEC chair cited the “Wild West of the crypto markets” that was “rife with noncompliance” as part of the reasons behind the budgetary request.
With the funding, Gensler said he expected the SEC to increase the number of full-time positions from 4,685 in 2023 to 5,139 in 2024. According to SEC data, the commission’s enforcement division brought more than 750 enforcement actions in 2022, but “rapid technological innovation” had led to misconduct in the crypto space.
“Our authorities at the SEC are quite robust — we could always use some more resources,” said Gensler in response to questions raised by Illinois Sen. Dick Durbin. “If this committee were to see fit and want us to have more resources, we could use them.”
SEC Chair Gary Gensler addressing U.S. lawmakers at a July 19 hearing. Source: Appropriations Committee livestreamRelated: US lawmakers propose SEC chair consider legislation, not enforcement approach to crypto
The SEC chair said he hoped to get an additional $70 million in funding in an agreed-upon budget to add another 170 people to the commission, some of whom would focus on enforcement. He also faced questioning from lawmakers on the SEC’s role in overseeing bankrupt crypto exchange FTX.
Gensler’s remarks followed a ruling in the SEC v. Ripple lawsuit in which a federal judge said XRP (XRP) was not necessarily a security. Though the SEC chair said the commission would be assessing the case, his testimony before the committee suggested that his position may not have changed on regulation by enforcement.
Magazine: Crypto regulation: Does SEC Chair Gary Gensler have the final say?
