SEC's budget proposal for 2024

So, the SEC is looking to boost their budget for 2024. According to @GaryGensler, they wanna ramp up enforcement in the crypto space. More cash means more hires, and they've already mentioned plans to expand their digital assets enforcement team, which has almost doubled in size over the past year. Gensler has put forth the SEC's budget request of $2.436 billion for FY 2024, compared to $2.149 billion from FY 2023. On the flip side, the CFTC is asking for $411 million, up from last year's $365 million. The CFTC has to fight for their budget since they aren't "budget neutral" like the SEC. Gensler claims the SEC is budget neutral, but they actually under-collected $414 million in fees last year.

Is this mean we are gonna see more and more printing money without burning mechanism hehehe

$2.5 billion is peanuts compared to how much the government is spending to support the banking sector. The SEC will fine a lot of cryptocurrency projects, and a lot of money will go to the budget in the form of fines. Therefore, I am sure that this budget will be approved. Maybe with changes, but not significant.