The chairman of the US SEC: Supporting the allocation of US$2.4 billion for the SEC will strengthen the supervision of emerging fields such as cryptocurrencies

According to Cointelegraph, Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), expressed support for President Biden’s request to allocate $2.4 billion for the SEC. Department work, and highlighted the continued need to crack down on "misconduct" in the cryptocurrency industry. Gary Gensler expressed the need for additional funding to maintain the pace of innovation, adding that rapid technological innovation in financial markets has led to misbehavior in emerging areas, especially in the crypto space, and addressing this problem requires new tools, expertise, and resources.