Coinbase objected to the Securities Exchange Commission's (SEC) fiscal year 2025 budget request of $2.60 billion. Coinbase representatives said in a statement that the SEC is again asking for more funding for enforcement regulation, but its massive budget is not being used for real crypto rulemaking, which could actually promote regulatory clarity.
The Securities Exchange Commission's multibillion-dollar budget request allocates $812.40 million to enforcement, up from $675.60 million in 2024. SEC Chairperson Gary Gensler said the budget will increase the number of full-time positions in the SEC's enforcement division by 27 to 1,447. The expansion will allow regulators to "investigate misconduct on a larger scale" and bring more complex lawsuits.
Coinbase has repeatedly urged the SEC to reduce enforcement and develop workable regulations, including through rulemaking petitions and attempts to force a response in court.
Coinbase objects to SEC's $2.60 billion budget request for fiscal year 2025
2024-06-14 01:15:02
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