Bitcoin Forum

https://coinedition.com/the-sec-struggles-to-recruit-crypto-experts-report-says/

"A U.S. government report found that the SEC faces difficulty hiring crypto experts.
Professionals were reportedly reluctant to divest their crypto holdings to work for the agency.
The report cited conflict of interest laws and competition from the private sector, hurting expert recruitment.

The SEC has ongoing cases against multiple entities in the crypto domain, including Ripple, Binance, and Coinbase. Against a backdrop of a mounting number of cases, the SEC is reportedly finding it challenging to hire experts in the field of crypto. The agency statutes require professionals to sell their crypto assets to work for the agency."

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Good news  :)

I imagine that it is not only this, but also that pay in the public sector is usually lower than in the private sector. Getting paid less, having to sell your digital assets and betraying your industry peers on top of that doesn't seem like a very attractive scenario to accept without thinking much about it.

Karma is a bitch.  :D

SEC is the reason for many FUD on crypto which every crypto holders is affected. I doubt that someone in crypto industry will help this department that main goal is to suppress anonymity of crypto.

They should just invest on training someone to become crypto expert rather than hire from crypto community that despise them badly.

I believe that the weak wages compared to the private sector and the disadvantage of selling the cryptocurrencies you own. Most experts are young and prefer jobs that allow them more freedom than government work, which is suitable for those who want to prepare plans for retirement, are all reasons that will make finding such experts very difficult. The price of Bitcoin will rise during the next 18 months. If I want a job that forces me to sell what I own, I would prefer to apply for it in 18 months and not now.

Reminds of that time when the NSA had problems recruiting new talent due to their strict policies regarding past and present recreational drug use. Though supposedly they have revised that ruling not that long ago.



Imagine freshly trained crypto experts quitting their government jobs to FOMO into crypto ;D

Hahaha after losing a lot from company like Ripple and Binance in court they currently hiring the experts, Hope they found one  ;D. But I dont know there will be experts who want to join the SEC, like poker player said it will be less attractive  ;D ;D

What exactly do these qualified experts do? Giving them suggestions on how to make the laws more strict or help them recover locked crypto assets? As far as I can tell, there doesn't seem to be a concise definition of this position. If it is related to their legal case, can't they just hire more lawyers/prosecutors and ask them to learn about crypto?

The article also mentioned competition and inconsistency in how the judge interprets the laws. Makes me wonder who competes with SEC on hiring them.

In Russian this is called an “unplowed field”.
This is what they say when there is a lot of work and there are constantly not enough workers. Of course, the SEC can hire specialists, but they need the best experts, because crypto companies have already learned to resist the SEC and win cases against them.
To punish all violators of the law, the SEC does not have enough time and resources even with an increase in staff.

This is madness but I won’t blame them if they don’t since they can get more income when they FOMO in crypto especially on bull market instead of being a dog by SEC with a fix salary.

I wonder if someone will took this job from crypto community then become a mole on what’s the SEC plan inside to early counter it by crypto project. This will be a very good plot twist for this job recruitment.  ;D

This is not serious. When you get a job, you will sign a lot of non-disclosure agreements and other rules, if you violate them, you will sit in prison for a very long time.
In Russia, newcomers work for 3-5 years in the police and prosecutor’s office, and then become successful lawyers :)

And it just shows how intelligent crypto enthusiast are, hehehe. I mean you have to sell all your crypto just to get this job? No way that I will do that just for a place in SEC and with that kind of salary. This is a niche so it will very hard to find someone with the skills that they are looking for. Unless it's a non-crypto guy, but then again, how can he/she be an effective recruit if the person doesn't know a thing or two? So this is not going to be easy for SEC to find anyone in the crypto space. So let's see, with the coming bull run next year, it will be really hard to sell our stash just to get this job.  ;D

This is not karma. There is a requirement that before they can be hired, they should dump all of their cryptocoins and tokens. Why would anyone who has invested in the cryptospace do this? It would be something similar as becoming a traitor to the community hehehe. Also, it might be earning lesser than holding the right coins.

Do you know what question a Russian person will immediately ask?
I'm not allowed to hold cryptocurrencies, but my wife or my child is also not allowed to do so?
In Russia, deputies and officials are prohibited from doing business, but their children, wives and close relatives are statistically the most successful entrepreneurs:)

The SEC could always hire and train new crypto experts but it seems they want to hire experienced experts. The US government is preparing to expand its regulatory function which is why they need personnel that have a wealth of experience in the sector. People will gladly help the SEC but no real crypto enthusiast will want to dump his coin or give away his privacy for the SEC's reward. 

I am just wondering why they want these proposed workers to obey the mandate to divest while the US government is holding large sums of cryptocurrencies. Does it mean that the current staff of the SEC are mandated not to own crypto or is this law limited to only these new recruits? Maybe these proposed applicants have special tasks to accomplish that require them not to hold cryptos.   

LOL, but yeah, it has nothing to do with Karma, but maybe @Eternad is just sarcastic when he says that SEC is getting what they deserved for now. I mean they have been the bane of crypto enthusiast and most of the time, we think that they are really anti-crypto or having a hard stance.

Nevertheless, it seems that this just just a hurdle, who knows, maybe the pay rate is really that good that someone will take a bite on this job.

We all know that in the US there is also a problem with people not having a job and obviously, it's hard for them. But if they see fit in this role then why not?

Typically, laws apply to all employees of an organization. Even if, perhaps, the possession of cryptocurrencies was not prohibited before, then after such a rule is introduced, all employees are required to comply with it. I don't know what about the cleaners or the security guards. But I'm more interested in what can be said about the conflict of interest between close relatives.

The pay rate might be good, however, what type of crypto experts would be attracted to work for the government? We have witnessed much of the experts in the cryptospace are scammers, some of the founders of many projects are not really experts and the investors who do their research invest in them only for their future potential not for what they presently are.

I am afraid the experts that the SEC will be hiring might not be real experts because real experts are very difficult to find.

That will be the biggest question on how they will define what "crypto experts" means, maybe here in our community or any other crypto community, they might have a different meaning for them. And even up to this day, we could have been debating the meaning of that and because it encompass a broader subject. Could be in terms of laws, or they could be looking as somewhat we can see a possible crypto scams and others.

So it's a very broad subject and maybe that's why they have a hard time finding the right now and there is actually no real experts in this field as it is generally fairly young. So they will have to set everything by precedent and it could be some mistakes by this so called experts as far as decision making is.

The SEC might end up losing more employees if the new law is forced on old employees. This is because some of them might resign since they will not want to dispose of their cryptocurrencies. This directive will be difficult to implement considering the pseudonymous of cryptocurrencies. I am also interested in how the SEC intends to manage or control how close family members of such employees will deal with crypto.

The job specification will determine how the organization will define the word "crypto expert". If an applicant possesses the skills that are needed to perform the specified task, then he could be classified as an expert because he can accomplish the task.

I can explain this to you using the example of a large Russian company such as Sberbank. If you work with Sberbank, this does not mean that you will have information for trading shares of this company on the stock exchange. You will perform a certain part of the work and sign a non-disclosure agreement. And your knowledge will not help you speculate in the market. Therefore, in order to gain access to significant information, you will have to work for a very long time and apply for a high position in the company. But once you achieve this, you won't have to break the law for profit. You will have enough money anyway.

Also, the real experts in the cryptospace are very idealistic and they would never change their ideals to work for the politicians who want to take freedom away from the people. Was it not disruption of traditional finance was what inspired everyone to join the community and adopt the cryptospace?

What would you reckon if Dan Larimer applied and took this job? I would reckon the enemies of his projects will be cracked down hehehehe.

They need experts who can explain to them how different cryptos work in plain terms to help them in producing new legislations/interpretations and to assess whether certain crypto-assets fall under the definition of "security".
They cannot just force random staff to just become crypto-experts. We're not talking about a basic understanding of the subject, but someone who has a thorough understanding of it.

The problem is there are no academic degrees in crypto that would make someone an expert (there are some certificates, but they're not good enough), so they'd have to recruit from the crypto industry, so from entities that SEC has heavily antagonised over the recent years, and all of such people would not really be independent and have a conflict of interest (by the usual definitions of it).

The reason's probably the pay is bad and those crypto experts that they're trying to recruit are hardline anti-government if not against just the financial institutions, those people probably can't betray their principles to be a dog of the regulatory board and these crypto experts are probably rich already that they aren't worried about the pay as I have mentioned before. Or it could be the SEC is just to strict with their requirements that they can't find the people that fits the requirements. I also have to assume that when you work at SEC, your assets and your stuff will be all accounted for so that's a possibility why they can't get any crypto experts. Regarding what OP said about training crypto experts, it's really difficult to do that if you don't have any crypto experts to train those new people or potential crypto experts, they are looking for one because they don't have one.

Yeah that might one of the reasons too but after joining the SEC team he should have no crypto in wallet that the most insane thing I mean you work in cryptospace but without crypto in it. Is like a plain job I dont know that would be interested or not.

Is it good news though? I mean I feel like in order to move forward with beneficial regulation it would be really great to have a very wise crypto figure to take that spot to help guide the SEC to the most beneficial regulations that promotes liberty and prosperity! Its the dumbest thing ever. Owning something is a human right, you can't tell someone that they can't own Bitcoin when everything that they do profesisonally relates to it! That would drive a man insane.

Hard to say if it's good or bad. I agree that it's probably not good news, as they won't be moving forward without access to proper expertise. But then again, them "moving forward" could mean more strict regulations, so who knows?
I don't think this would affect Bitcoin though, it's probably more about coins/tokens with more complex blockchains and utility.

There's also a risk that, being unable to recruit proper experts, they will take on board whoever's available, creating a risk of some stupid, unreasonable decisions/interpretations.