“We’re not trying to grow really significantly, but resources to grow at least six percent to grow our enforcement arm in this space,” said Gary Gensler.
Gary Gensler, chair of the United States Securities and Exchange Commission, or SEC, has cited concerns about cryptocurrency enforcement in its budget request for the next fiscal year.In written testimony for a Wednesday hearing of the U.S. House Committee on Appropriations, Gensler said he supported President Joe Biden’s request to budget more than $2.1 billion for the SEC in FY2023, allowing the regulatory body to increase its enforcement division by 50 people. The SEC chair cited concerns about the crypto space, referring to markets as “highly volatile and speculative” as well as the need for “new tools and expertise” to address enforcement.“The additional staff will provide the Division with more capacity to investigate misconduct and accelerate enforcemen
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