US Securities and Exchange Commission (SEC), cryptocurrency will establish a new office for applications.
Cicely LaMothe, deputy director of disclosure operations at the Corporation’s Corporate Finance Department, said in a statement that the new office would work under them. The department in question handles the statements of publicly traded companies.
SEC Spokesperson Speaks About the New Office Planned for Cryptocurrencies at the Conference He Attended
LaMothe told listeners at a law conference in Washington that the SEC’s new office sees it necessary to handle “unique and emerging” applications, the vast majority of which relate to cryptoassets that the SEC considers securities.
As is known, the cryptocurrency industry strongly opposes the idea of defining coins as securities, unlike the SEC. Many companies do not register their new coin products as securities, and as a result, they get into trouble with the US supervisory SEC.
One of the most famous examples in this field is the Ripple-SEC case. In this case, the SEC unregistered Ripple company. XRP He claims to have sold his securities.
The SEC recently announced that bitcoin and Ethereum He stated that assets such as these can be considered as commodities instead of securities, but he maintained his old attitude for other coins.
According to LaMothe, the SEC still needs someone to run the office, and this office is expected to have legal and accounting branches for crypto firms to consult and apply to.
*Not investment advice.
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