SEC wants to hire crypto experts, but job candidates won’t sell their holdings

The U.S. Security and Exchange Commission (SEC) is facing challenges successful recruiting cryptocurrency experts, a occupation partially attributed to its ain policies, arsenic highlighted successful a caller bureau document.

That document, published successful October and modified Nov. 2, is titled The Inspector General’s Statement connected the SEC’s Management and Performance Challenges.

It indicates that the bureau is having difficulties hiring specialists successful the country of crypto assets. Officials wrong the SEC study that determination is simply a tiny campaigner excavation and beardown contention from the backstage sector, limiting the agency’s quality to prosecute crypto experts.

The SEC’s ain policies, which restrict immoderate employees from owning crypto, additionally forestall imaginable candidates from being hired. One conception reads:

“… Many qualified candidates clasp crypto assets, which the Office of the Ethics Counsel has determined would prohibit them from moving connected peculiar matters affecting oregon involving crypto assets … candidates are often unwilling to divest their crypto assets to enactment for the SEC.”

In a abstracted study from Fortune, an SEC spokesperson minimized the agency’s hiring issues. That typical alternatively emphasized the company’s dependable complaint of hiring, comparatively debased attrition rates, and presumption arsenic a “best spot to enactment successful government.” They besides described assorted accomplishments astir rulemaking and addressing challenges.

SEC is apical regulator of crypto sector

The SEC is highly progressive successful regularisation and enforcement concerning cryptocurrency companies and products. Currently, the bureau has high-profile cases underway against 2 large crypto exchanges, Binance and Coinbase, arsenic good arsenic different firms.

The bureau has besides ended up with lawsuit rulings not wholly successful its favor. Ripple won a partial triumph regarding income of the XRP token successful July, portion Grayscale won the close to person its projected GBTC conversion reviewed by the bureau successful August.

Despite setbacks, the SEC has secured galore victories and rapidly reached settlements with respective firms it targeted. The agency’s database of crypto-related actions names implicit 130 actions involving cryptocurrency, astir of which person taken spot since 2018.

The station SEC wants to prosecute crypto experts, but occupation candidates won’t merchantability their holdings appeared archetypal connected CryptoSlate.