The American regulator will accelerate the consideration of applications for the launch of crypto projects

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The US Securities and Exchange Commission (SEC), due to the growing number of applications for cryptocurrency projects, announced the creation of two departments focused on digital assets.

The first division, the Department of Crypto Assets, will review applications for launching projects. Second, the Office of Industrial Applications and Services will focus on the relevant direction.

The SEC clarified that the two new divisionswill join the agency's seven existing offices, which "provide targeted analysis of issuer documents." The offices are grouped by industry and will operate under the Disclosure Review Program (DRP) of Corporate Finance:

“The Cryptocurrency Authority will continue the work currently underway under the DRP by reviewing applications related to cryptoassets.”

SEC Director of Corporate Finance RenéRenee Jones explained that the regulator "saw the need to provide more and more specialized support to the finance department." The fact that the Cryptocurrency Authority will take over the review of applications for cryptocurrency projects will allow the DRP department to refocus on issues related to financial institutions, life sciences research, manufacturing applications and services. .

In July, the Commodity Futures Trading CommissionThe United States (CFTC) announced the creation of a new division for the supervision of technical innovation, which, among other things, will regulate the cryptocurrency market.