Cryptocurrency editor Jeff Roberts has uncovered a document highlighting the challenges the U.S. Securities and Exchange Commission (SEC) is facing in its efforts to recruit cryptocurrency industry experts.
According to the document, the SEC is struggling to recruit experts on crypto assets, which it sees as critical to strengthening its capabilities to investigate new and emerging issues in crypto asset markets. The document cites a small candidate pool of qualified experts and intense competition from private sector hiring as key challenges in filling crypto-asset-related positions.
“The Reason Why the SEC Cannot Find a Cryptocurrency Expert is Because It is Looking for a Crypto Expert Who Doesn't Own Cryptocurrency”
Interestingly, the document also reveals that many qualified candidates hold cryptocurrency assets; This prohibits them from working on certain matters affecting or involving cryptocurrency assets, according to the Ethics Counsel Office. This ban reportedly hurts recruiting as candidates are often reluctant to divest crypto assets to work for the SEC.
Roberts suggested it might make more sense to allow staff to hold a reasonable amount of crypto, arguing that this could potentially make them better at their jobs. However, it is not yet clear how the SEC will address this issue in the future.
*This is not investment advice.