Coinbase derides SEC’s $2.6 billion budget request; American Securities Association calls for lower amount

Coinbase criticizes the Securities and Exchange Commission’s (SEC) request for a $2.6 billion budget for the 2025 fiscal year, emphasizing the lack of funds allocated to regulatory clarity. In response, a representative from Coinbase stated that the SEC’s budget primarily goes towards enforcement rather than creating clear rules for the crypto industry. The SEC’s budget request includes an increase in enforcement funding, allowing them to investigate misconduct on a larger scale. Coinbase has consistently urged the SEC to adopt a more collaborative approach and establish workable regulations. The American Securities Association (ASA) also called for a reduced budget for the SEC, with the House Appropriations Committee suggesting a budget limit of $2 billion and a lower budget for the SEC Enforcement Division. The ASA urged Congress to hold the SEC accountable and focus on investor protection, market order and fairness, and capital formation. The trade association also raised concerns about the SEC’s handling of certain cases, including a mishandled case involving crypto firm DEBT Box.