Priority Open Recommendations: Securities and Exchange Commission
Highlights
What GAO Found
In May 2024, GAO identified one priority recommendation for the Securities and Exchange Commission (SEC) related to blockchain technology. Specifically, GAO recommended that SEC and the other federal financial regulators jointly establish or adapt an existing formal coordination mechanism to identify and address risks posed by blockchain-related products and services. As of May 2025, SEC has not implemented the recommendation. Establishing such a mechanism would help SEC and the other regulators collectively identify risks and develop and implement a regulatory response in a timely manner.
GAO will continue to monitor SEC's progress in implementing the open priority recommendation.
Why GAO Did This Study
Priority open recommendations are GAO recommendations that warrant priority attention from heads of key departments or agencies because their implementation could save large amounts of money; improve congressional or agency decision-making on major issues; eliminate mismanagement, fraud, and abuse; or ensure that programs comply with applicable law and funds are lawfully spent, among other benefits. Since 2015, GAO has sent letters to selected agencies to highlight the importance of implementing such recommendations.
For more information, contact Daniel Garcia-Diaz at GarciaDiazD@gao.gov.