SEC Requests $158 Million Increase to Tackle Crypto Market Challenges in 2025 Budget Proposal
The U.S. Securities and Exchange Commission (SEC) is seeking an additional $158 million for its 2025 budget to address the growing complexities in financial markets, particularly the challenges stemming from the crypto sector.
According to the SEC’s March 11 Congressional Budget Justification, the agency is requesting a total budget of $2.594 billion for the 2025 fiscal year, up from $2.436 billion requested in 2024.
The SEC’s 2025 Budget Justification is out. The President’s request is for $2.594 BILLION in funding. Over $100 million increase from 2024. It will come as no shock that the 2025 priorities include Private Funds, AI and “the wild west of the crypto markets”.…
— Anne Kelley (@amk_dc) March 18, 2024
In the 148-page document, U.S. Securities and Exchange Commission Chair Gary Gensler emphasized that rapid technological advancements are reshaping markets and business models, citing the emergence of new communication channels such as Reddit forums and celebrity influencers.
He also highlighted the challenges posed by the crypto markets, describing them as a “Wild West” characterized by noncompliance and speculative behavior.
Gensler underscored the need for increased resources to combat potential wrongdoing, stating that the U.S. Securities and Exchange Commission must be equipped to address bad actors effectively.
Part of the additional funding would be allocated to expanding staff across the agency’s divisions, with a target of 5,621 positions in 2025 compared to 5,473 in 2024.
This expansion includes recruiting staff across various divisions, with a focus on strengthening oversight in areas such as cryptocurrencies and up-and-coming financial technologies.
Specifically, the Division of Examinations seeks
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