The U.S. Securities and Exchange Commission faces hiring challenges and legal uncertainty as it struggles to hire Bitcoin and crypto experts willing to sell their crypto assets.
The U.S. Securities and Exchange Commission (SEC), which sets rules for financial markets, is working to hire cryptocurrency experts because of a tricky situation: Many qualified people own cryptocurrencies themselves.
SEC ethics rules say that possession of these digital assets prevents these experts from handling crypto-related cases to avoid any conflicts of interest. Because of this rule, many people do not want to sell their cryptocurrencies to work for the SEC.
The issue is part of a larger challenge facing the SEC. Trying to keep up with the rapid growth of the crypto world is difficult due to a lack of available experts, and private companies often offer better jobs for experts.
As mentioned in a report, this hiring issue is just part of the issues the SEC is dealing with detail report It releases. Cryptocurrency is one of the new areas that the SEC sees as a challenge because it is constantly changing and evolving.
The report also talks about how the laws surrounding cryptocurrencies are unclear. Different judges can render very different decisions in very similar cases.
For example, the SEC is engaged in a legal battle with Ripple Labs, and the lack of clear rules makes it difficult for the SEC to decide how to handle various crypto issues.