House Republicans propose a 7% budget cut for the SEC for fiscal year 2026, resulting in 2.03 billion USD. This move includes cutting funds for enforcing cybersecurity rules established during the Biden administration, indicating a shift towards deregulation.
Democrats challenge the proposed budget cut, claiming it allows corporations to evade legal responsibilities and harms consumer protections. This reflects ongoing tensions as the GOP seeks to unwind regulatory measures related to the crypto industry.
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