The United States Securities and Exchange Commission (SEC) has asked Congress for an extra $158 million for its 2025 budget to address market changes in cryptocurrencies.
SEC Chair Gary Gensler highlighted the need for these funds due to rapid technological advancements and risks in the market. The SEC’s budget justification document outlines a total budget request of $2.594 billion for 2025, up from $2.436 billion in 2024.
One of the key areas of focus is strengthening the SEC’s workforce, with a target of 5,621 positions in 2025 compared to 5,473 in 2024. This includes additional positions in the Division of Examinations (EXAMS) to address evolving risks related to crypto assets and emerging financial technology.
The Office of Investor Education and Advocacy (OIEA) also seeks to add one position dedicated to handling questions and complaints related to fraud involving crypto asset securities. Additionally, the Office of the General Counsel (OGC) aims to hire two more positions to support increased litigation and whistleblowing activities.
Despite falling short on some performance targets, the SEC reported an increase in crypto-related enforcement actions, highlighting the agency’s ongoing efforts to protect investors and maintain market integrity.
Also Read: Senators Reed & Butler Urge SEC to Halt Crypto ETF Approvals
