Trump's Proposed Budget for SEC in 2027 Down Slightly from Last Year

Trump Plan Lowers SEC Exam Funding, Pitches CFTC Fee Offsets

President Donald Trump’s federal budget projects lower costs for the SEC’s enforcement and examination programs in fiscal 2027 than the actual expenditure from 2025.

The Securities and Exchange Commission’s enforcement allocation is poised to tick up slightly from the fiscal 2026 estimate of $607 million to an estimated $634 million figure in 2027, but the examination budget would fall by $3 million in that same time frame, according to the newly proposed budget. The enforcement division received $694 million in 2025.

The overall fiscal 2027 SEC budget proposal of $2.08 billion is down from last year’s actual $2.2 billion …

Why the mind-bending physics of quantum computing is terrifying for bitcoin and crypto

The math protecting bitcoin relies on the assumption that checking every possible key would take longer than the age of the universe.

But a quantum computer doesn’t check every key. It explores all of them simultaneously and uses interference to surface the right one.

That is where it ties into Bitcoin. Going one direction, from private key to public key, takes milliseconds. Going the other direction, from public key back to private key, would take a classical computer a million years, or even longer than the age of the universe. That asymmetry is the only thing proving that a person is holding their coins.

A quantum computer running an algorithm called Shor’s can go through that trapdoor in reverse. Google’s paper this week showed it could do so with far fewer resources than anyone previously estimated, and within a timeframe that races against bitcoin’s own block confirmations.

This is why the threat of quantum computers breaking blockchain encryption is genuinely making everyone very worried.

Prediction Markets and Your Compliance Program – Conflicts of Interest and Reputational Risks

Compliance leaders should consider four key questions.

— First, does the Company want to take a position of specifically limiting/discouraging or prohibiting employee participation in prediction markets?

— Second, does the Code of Conduct (or another existing policy) expressly address prediction market participation, or does it rely on general conflicts and confidentiality provisions that predate the current marketplace? If you are relying on principles, consider adding examples specific to the predictive markets in training materials or consider sending alerts specific to predictive markets.

— Third, do existing conflicts policies require pre-clearance or disclosure of such predictive market trades, and does the company have tools to detect undisclosed activity?

— Fourth, are information barriers and conflict recusal procedures adequate to manage any conflicts that may be presented, or is a blanket prohibition on making predictive bets a better approach?

FBI labels data breach as ‘major incident’

The FBI has labeled a recent data breach, which reportedly targeted an FBI surveillance system, a “major incident” and notified Congress about the cyber intrusion, the agency confirmed to The Hill on Friday.

“The FBI identified anomalous activity on an unclassified network and quickly leveraged all technical capabilities to remediate the incident,” the agency said in a statement. “It was determined the access was obtained through a third party and constitutes a major incident under the Federal Information Security Modernization Act (FISMA).”

“The FBI is following the required steps under FISMA, including notifying Congress, and remains focused on countering nation-state and cybercriminal activity,” it continued.

Several outlets reported that China-linked hackers are suspected of being behind the breach.