SEC Has Added Crypto To Its List Of 2024 Exam Priorities

Key Points:

• US SEC includes cryptocurrency in its 2024 exam priorities.
• Concerns raised on the allocation of funds, sparking debate on SEC’s role in the crypto industry.

Eleanor Terrett highlighted SEC has added crypto a significant development in the regulatory landscape concerning cryptocurrencies.

Terrett brought attention to the US Securities and Exchange Commission’s SEC has added crypto latest move, where cryptocurrency has been incorporated into the list of examination priorities for the year 2024.

Expressing a pertinent concern, Terrett pointed out that the majority of cryptocurrency companies operate outside the purview of the SEC has added crypto’s regulatory framework and thus are exempt from paying any associated registration fees. This raised a critical question regarding the allocation of agency resources and the utilization of funds sourced from registered companies. Terrett questioned whether SEC Chairman Gary Gensler’s emphasis on prioritizing the crackdown on the cryptocurrency sector, which the agency has not yet been officially empowered to regulate, could potentially be construed as an inappropriate utilization of regulatory resources.

Crypto’s Evolving Future with the SEC

The debate spurred by Terrett’s remarks drew attention to the broader issue of the regulatory oversight of the rapidly evolving cryptocurrency industry. With many cryptocurrency entities currently operating beyond the scope of traditional regulatory frameworks, the SEC has added crypto’s decision to prioritize the monitoring and potential enforcement actions within the sector has sparked discussions about the balance between regulatory enforcement and industry innovation.

Terrett’s query resonated with the overarching debate surrounding the anticipated trajectory of the cryptocurrency industry’s interaction with regulatory bodies. The critical question remains whether the SEC has added crypto’s inclusion of cryptocurrencies in its 2024 examination priorities signals an expectation for increased registration of crypto companies with the agency, thereby subjecting them to regulatory oversight and compliance measures.

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