Regulatory Pressure on the Crypto Market
Over the last year, the crypto space in the United States has faced increasing scrutiny from regulators. Events like the fall of FTX and the collapse of Silicon Valley Bank have put the industry under a magnifying glass, with enforcement agencies stepping up their game.
SEC’s New Hiring Initiative
In a bid to bolster its enforcement actions, the Securities and Exchange Commission (SEC) is on a hiring spree. According to a recent job posting, they are looking for general attorneys to join their Crypto Assets and Cyber Unit across major cities: New York, San Francisco, and Washington D.C. All those aspiring legal eagles, take note!
Job Responsibilities and Requirements
The job entails conducting intricate investigations that are as fast-paced as a crypto market swing. Attorneys will engage in a mix of drafting subpoenas, interviewing witnesses, and evaluating evidence—even that suspicious tweet you sent back in 2019 may come back to bite you!
- Conduct complex investigations regarding crypto-asset securities.
- Draft legal documents and requests.
- Interview witnesses and gather crucial evidence.
Salary Expectations
Now, if you’re considering applying, the salary range should catch your attention. General attorneys can expect to earn between $140,830 to $259,590 annually. Not too shabby for a legal job, right? With that kind of salary, you could afford to buy a few NFTs or even a galaxy of meme coins!
Increased Funding and Potential Consequences
In related news, SEC Chair Gary Gensler has requested a whopping $2.4 billion to fund initiatives aimed at tackling misconduct in the crypto arena. This should prompt industry insiders to wonder if such aggressive funding translates into a choking regulation environment for fostering innovation.
Mixed Reactions from Lawmakers
As the SEC strengthens its regulatory framework, not everyone is on board with the tactics being employed. Representative Tom Emmer has publicly criticized Gensler, dubbing him a “bad faith regulator” who may be overstepping in his regulatory zeal. It seems that in the great crypto debate, opinions vary as wildly as the markets themselves.
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