The Securities and Exchange Commission will establish a new office for cryptocurrency filings.
The office will be within the Division of Corporation Finance, which handles disclosures for publicly traded firms, said Cicely LaMothe, the associate director for disclosure operations within that division.
LaMothe told the audience at a legal conference in Washington on Thursday that the SEC saw the new office as necessary to address “unique and evolving” filings around crypto assets, the vast majority of which the SEC views as securities. Much of the crypto industry has pushed back against the definition or otherwise avoided registering new coins as securities, often resulting in enforcement actions or ongoing litigation.
According to LaMothe, the SEC still needs someone to run the office, which is expected to have legal and accounting branches for crypto firms to consult and file with.
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Kollen Post is a senior reporter at The Block, covering all things policy and geopolitics from Washington, DC. That includes legislation and regulation, securities law and money laundering, cyber warfare, corruption, CBDCs, and blockchain’s role in the developing world. He speaks Russian and Arabic. You can send him leads at [email protected].
Source: https://www.theblock.co/post/168695/sec-to-form-a-new-office-for-crypto-disclosures?utm_source=rss&utm_medium=rss