Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), is pushing for a $2.6 billion budget increase to enhance staffing and tackle cryptocurrency market regulations, which he refers to as 'the Wild West of crypto markets.' This move comes amid leaked memos suggesting potential market chaos and downplayed recession fears. Gensler's crackdown on crypto is unpopular even inside the SEC. Meanwhile, Republican Congressman John Rose of Tennessee has introduced the BRIDGE Digital Assets Act. This bill aims to establish a Joint Advisory Committee on digital assets between the SEC and the Commodity Futures Trading Commission (CFTC), consisting of 20 private sector members, to foster better collaboration and regulatory frameworks for digital assets.