US Government Accountability Office offers SEC recommendations post-Bitcoin ETF approval
A US watchdog notes that the SEC’s specialized unit for emerging technologies is not fully prepared to meet current challenges. On Dec. 15, the United States Government Accountability Office (GAO) proposed three primary action plans to the Securities and Exchange Commission to take in the wake of approving 11 spot Bitcoin exchange-traded funds (ETFs) on Jan. 10. The advised strategies were centered around managing the workforce for the digital asset market and guiding the regulator’s approach to the burgeoning industry in the upcoming years. The report found that despite having 116 staff members working on crypto-related issues, the SEC has not updated its workforce planning strategy since 2019. To address this, the US watchdog suggested the preparation of a new strategy aligned with the agency’s 2022–2026 strategic and performance plans. You might also like: Coinbase dominance over Bitcoin ETF custody raises concerns The report also noted that the SEC...