SEC Inspector General says prohibition on crypto ownership hinders agency hiring

The Office of the Inspector General (OIG) of the United States Securities and Exchange Commission (SEC) has released its annual examination of the most serious management and performance challenges facing the agency. Crypto was on its list, as no surprise to anyone in the crypto community.

The OIG’s “Statement on the SEC’s Management and Performance Challenges” noted the agency’s previous statements about the lack of disclosure and “widespread noncompliance with existing securities laws by crypto asset market participants.”

The existing law leaves gaps in oversight related to crypto assets that are not securities and certain stablecoins. There have been calls for…

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