The US Securities and Exchange Commission (SEC) is having difficulty recruiting professionals to help regulate crypto.
The SEC’s Office of Inspector General (OIG), which oversees the regulator’s activities, notes in a recent report that the commission believes it is critical to recruit crypto specialists to tackle new and evolving problems examine the digital asset markets.
However, several factors make this effort difficult to accomplish, the OIG said.
“Officials in several SEC divisions cited a small candidate pool of qualified experts and high competition from private sector recruitment as challenges in filling crypto asset-related positions. Officials also reported that many qualified candidates own crypto assets, which the Office of the Ethics Counsel determined would prohibit them from working on certain matters that affect or involve crypto assets.
This ban has been detrimental to recruitment, according to SEC officials, as candidates are often unwilling to divest their crypto assets to work for the SEC.”
The SEC calls the digital asset space an “evolutionary risk” and says it has requested additional crypto-related positions for fiscal year 2024.
The regulator specifically wants to add staff to the Divisions of Examinations, Trade and Markets and Enforcement, as well as the Office of the General Counsel and the Office of International Affairs.
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