SEC Seeks $2.6 Billion Budget Boost to Rein in Crypto 'Wild West' and Expand Oversight

The SEC requested a $2.6 billion budget to expand oversight of the crypto sector, adding over 5,000 positions by 2025.

SEC Chair Gary Gensler aims to curb "Wild West" issues in crypto markets like noncompliance and investor risk.

The SEC has been strict lately - suing major crypto exchanges and classifying assets as securities.

The crypto industry is pushing back via lobbying and lawsuits, seeking innovation-friendly regulations.

Legal battles continue as some allege the SEC overreaches in classifying digital assets as securities.