SEC reports difficulty hiring crypto experts

The U.S. Securities and Exchange Commission (SEC) is finding it hard to hire crypto experts, as suitable candidates are reluctant to sell their digital assets. This is stated in the отчете from the agency’s inspector-general’s office.

«Many qualified candidates own crypto assets that, as determined by the Ethics Advisor’s Office, prevent them from working on specific issues touching this area», the SEC said.

The document states that the prohibition for officials “harms recruitment.” Most prospective employees prefer the private sector.

The report also describes issues at senior leadership and regulator performance. Alongside artificial intelligence, the Commission described cryptocurrency as “an evolving area that poses particular challenges.”

«The SEC’s ability to remain effective requires it to continually monitor the market environment and, when necessary, adjust and modernize its expertise, rules, regulations, as well as its tools and oversight activities. The agency recognizes the rapid growth of crypto assets as one of several evolutionary risks», — added the officials.

Recalling recent court decisions, including the case against Ripple Labs, the SEC noted that there is still no consistent legal practice regarding cryptocurrencies. This has led to a situation where even judges in the same district may issue conflicting rulings on similar facts or questions.

Earlier in November, the SEC began an investigation into PayPal’s PYUSD stablecoin.

Later, the regulator asked the court to issue decisions in expedited proceedings on the lawsuits against Terraform Labs and its founder Do Kwon.