The SEC is struggling to hire crypto experts—partly because the agency’s employees can’t own cryptocurrency

The federal regulator has continued to double down on crypto enforcement actions, most recently suing the company SafeMoon and its executives.

Highlights

The Securities and Exchange Commission is one of the major federal regulators looking to rein in the crypto industry.
A new report from the SEC’s inspector general cites a “small candidate pool of qualified experts” and competition with alluring offers from the private sector.
The report also cited candidates’ conflicts with rules that prohibit the holding of cryptocurrencies.
The regulator has doubled down on enforcement actions since the collapse of the FTX in November 2022, filing a series of lawsuits against companies and personalities, both big and small.
In June, he picked fights with the two of the biggest crypto exchanges, Binance and then Coinbase, in addition to suing the company SafeMoon.

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