SEC Budget Approved by Senate Appropriations Committee
CryptoNewsTerminal Staff05 Aug, 2024
SEC Budget Approved by Senate Appropriations Committee
The Senate Appropriations Committee has allocated the Securities and Exchange Commission (SEC) a budget of $2.23 billion for the upcoming fiscal year, a slight reduction from the $2.6 billion requested by SEC Chairman Gary Gensler earlier this year. The approved budget represents an increase from the SEC's current budget of $2.1 billion, and it will allow the agency to continue its work in protecting investors and regulating the securities markets. The SEC has been a key player in the ongoing debate over cryptocurrency regulation, and the increased budget will allow it to expand its efforts in this area. The agency has already taken steps to crack down on cryptocurrency fraud and abuse, and it is expected to continue to focus on this issue in the coming year. The additional funding could also be used to investigate companies that issue and/or lend against cryptocurrencies. The SEC's budget has been a topic of debate in recent months, with some arguing that the agency needs more funding to effectively regulate the securities markets. Others have argued that the SEC is already well-funded and that any additional funding should be used to address other priorities.
