The United States Securities and Exchange Commission (SEC) is setting up a dedicated office to review crypto-related filings. The securities regulator emphasized the need to “provide greater and more specialized support” for crypto assets.
SEC’s Dedicated Cryptocurrency Office
The U.S. Securities and Exchange Commission (SEC) on Friday announced plans to create two new offices to review the filings. The regulator says one is the “Crypto Assets Office” and the other is the “Industrial Services and Applications Office,” the regulator said, adding that both is expected to be established later this fall.
The two new offices will join the agency’s seven existing offices, which “provide a centralized review of issuer filings,” the SEC detailed, noting that these offices are grouped by specialty. subject in the industry and will be part of the agency’s Disclosure Review Program (DRP). .
“The Crypto Assets Office will continue the work currently being done on the DRP to review filings related to crypto assets,” the securities regulator clarified, explaining:
Designating companies and records to an office will allow DRP to better focus its resources and expertise on addressing unique and evolving record review issues related to cash assets. electronic.
Citing recent growth in the crypto market, Renee Jones, director of the SEC’s Corporate Finance Division, explained that the regulator “sees the need to provide more and more specialized support.” to the DRP Finance Office.” She chooses:
The establishment of these new offices will allow DRP to increase its focus on crypto assets, financial institutions, life sciences, industrial applications and services, and facilitate favorable to our ability to fulfill our mission.
SEC Chairman Gary Gensler said on Thursday: “Of the nearly 10,000 tokens in the crypto market, I believe the majority are securities. This offering and sale of thousands of crypto security tokens is subject to securities laws. “I have asked the SEC staff to work directly with the entrepreneurs to register and manage their tokens, as appropriate, as securities,” he emphasized.
What do you think about the SEC setting up a dedicated office to review filings related to crypto assets? Let us know in the comments section below.
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