Financial Regulators Seek Billions More for Crypto Oversight Amid Wild West Worries

SEC requesting $2.6B budget and dozens more staff to oversee crypto markets amid "Wild West" concerns
CFTC wants more resources to monitor crypto derivatives clearing organizations and potential risks
Treasury Department citing need for more crypto oversight across various divisions like FinCEN and OFAC
Regulators emphasizing recent crypto enforcements and aim to expand oversight of DeFi, ransomware
Congress evaluating 2024 budget requests from financial regulators seeking millions more for crypto