SEC has difficulty finding cryptocurrency experts, SEC says

SEC has difficulty finding experts due to the requirement not to own cryptocurrencies

Qualified experts do not want to sell their digital assets to work at the SEC

The U.S. Securities and Exchange Commission (SEC) is having difficulty finding employees to work with cryptocurrencies because the terms require candidates to sell all of their digital assets, according to a report from the regulator.

"Many qualified candidates own digital assets, which [...] prevents them from participating in discussions about cryptocurrencies. This prohibition, according to the SEC, has proven unfavorable for recruitment, as candidates are often not willing to part with their cryptocurrency assets for the sake of working at the SEC," the commission's report said. In addition, the regulator said it faces a limited selection of candidates and high competition from private companies.

The U.S. Securities and Exchange Commission (SEC), led by Chairman Gary Gensler, is increasingly increasing pressure on the cryptocurrency industry. The main U.S. exchange regulator has already filed lawsuits against two major cryptocurrency exchanges - Binance and Coinbase. The agency makes a number of charges against both exchanges, the main of which is the recognition of a number of cryptocurrency assets, which are traded on the platforms in the form of unregistered securities, falling within the competence of the regulator.

In June this year, the head of the SEC compared the cryptocurrency industry to the U.S. stock market of the 1920s, full of "hustlers and swindlers," and in late October said that the crypto industry is "teeming" with fraudsters and con artists.