Musk's DOGE eyes SEC amid crypto policy shift debate

Elon Musk's Department of Government Efficiency (DOGE) is now scrutinising the Securities and Exchange Commission (SEC), prompting discussion on crypto regulation and government oversight.

DOGE is seeking public input to identify "waste, fraud and abuse" within the SEC.

This action occurs despite the crypto industry's changed relationship with the SEC, which some now view as a potential ally.

Following Trump's pro-crypto stance, the SEC has shown a willingness to consult with the industry and consider new ETFs.

However, DOGE's investigation has ignited conflicting views within the crypto community.

Coinbase's CLO supports punitive measures against the SEC, while SEC Commissioner Hester Peirce has cautioned against SEC cuts, emphasising the importance of skilled personnel for pro-crypto policies.

"We have a lot of really fantastic people at the SEC, who are doing really important work," Peirce stated.

Musk's involvement in government efficiency efforts dates back to his appointment by President Trump to enhance government efficiency.

While Musk promised transparency, his actions have faced scrutiny.

Donald K. Sherman, director of Ethics in, noted that Trump has permitted Musk to “wield unprecedented power and authority over government operations” with “maximum secrecy and minimal accountability.”

DOGE's actions have faced legal challenges.

A federal judge previously blocked Musk's team from accessing Treasury Department records, citing concerns about private financial information.

Musk's scrutiny of the SEC comes amid his past conflicts with the agency.

The SEC previously fined Musk and Tesla $20 million each over posts about taking Tesla private at $420 a share.

The SEC also sued X in January 2025, alleging Musk misled shareholders about his Twitter stock purchases in 2022.