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The U.S. Securities and Exchange Commission (SEC), due to the increase in the number of applications for cryptocurrency projects, announced the creation of two digital asset-focused directorates.
The first division, the Cryptoassets Department, will review applications for the launch of projects, while the second, the Industrial Applications and Services Department, will focus on the relevant area.
The SEC clarified that the two new divisions will join the agency's seven existing offices, which "provideThe offices are grouped according to the industry principle and will beWork within the Disclosure Review Program (DRP) of the Corporate Finance Division:
"The Cryptocurrency Authority will continue the work currently underway under the DRP, reviewing applications related to crypto assets."
SEC Division of Corporate Finance DirectorRenee Jones explained that the regulator "saw the need to provide more and more specialized support to the finance department." The fact that the Office of Cryptocurrency 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 and services applications. .
In July, the Commodity Trade CommissionUS Futures Exchange (CFTC) announced the creation of a new unit to oversee technical innovation, which, among other things, will regulate the cryptocurrency market.
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