Elon Musk’s controversial Department of Government Efficiency (DOGE) has reportedly set its sights on the United States Securities and Exchange Commission (SEC) after President Donald Trump signed an executive order appointing the team in January 2025.
The order granted DOGE wide latitude to institute cost-cutting measures across federal agencies to increase operational efficiency and save taxpayer dollars.
On March 29, Reuters reported that the DOGE team contacted the SEC and was given preliminary access to the agency’s systems and data.
An internal email mentioned in the report indicated that the SEC plans to put together a liaison team to work with DOGE representatives as long as they comply with ethical requirements, IT security protocols, system training, and a “need to know” clearance being shown before approving restricted systems.
What DOGE intends for the SEC is unclear, but its maneuvers at agencies like USAID and the CFPB have led to legal challenges to its authority. As DOGE trains its sights on the SEC, questions are being raised about its future direction.
On March 27, the Senate Banking Committee held its nomination meeting and will soon vote to advance the nomination of the Chairman of the SEC.
Paul Atkins, President Trump’s choice to run the SEC, said he would “definitely” work towards incorporating digital asset-friendly rules if appointed.
Unlike under Gary Gensler, the current SEC has been open to more transparent crypto regulation.
Under the leadership of Senator Tim Scott on the Senate Banking Committee, bipartisan support has been building for a regulatory framework that balances innovation and protecting investors, laying the groundwork for potential reforms if Atkins receives a green light to serve as chair of the SEC.