The SEC is grappling with challenges in recruiting crypto experts who are hesitant to part with their digital assets. Learn how this dilemma impacts the regulator’s ability to address crypto-related matters.
The Securities and Exchange Commission (SEC) is encountering difficulties in its quest to hire cryptocurrency experts. The regulator’s Office of Inspector General reveals that many well-qualified candidates hold crypto assets, preventing them from participating in cases related to cryptocurrencies. This prohibition has created hurdles in the recruitment process, as potential candidates are often unwilling to divest their crypto holdings to work for the SEC.
Moreover, the SEC faces a shortage of qualified experts and fierce competition from the private sector. The crypto industry’s rapid growth and the increasing significance of digital assets have intensified the demand for experts in this field. To effectively regulate the crypto market and engage in enforcement actions, the SEC must find a way to navigate this HODLing dilemma and attract the expertise it needs.