News Explorer — SEC's Gensler Seeks Expanded Budget, Noting Crypto's 'Wild West'

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Jul 19, 7:28 pm

Coindesk

SEC's Gensler Seeks Expanded Budget, Noting Crypto's 'Wild West'

SEC Chairman Gary Gensler has requested additional funding of $72 million to expand the agency's staff and crackdown on noncompliance in the crypto industry. Gensler emphasized the need to protect investors from the speculative nature of cryptocurrencies and stated that the SEC's efforts to stamp out fraud and manipulation would lower risk in the system.

SEC Chairman Gary Gensler has requested additional funding of $72 million to expand the agency's staff and crackdown on noncompliance in the crypto industry. Gensler emphasized the need to protect investors from the speculative nature of cryptocurrencies and stated that the SEC's efforts to stamp out fraud and manipulation would lower risk in the system.

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