SEC to Add Office of Crypto Assets in Response to Rapid Growth of Digital Asset Industry

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The U.S. Securities and Exchange Commission (SEC) is addressing a recent rise in crypto filings by opening up a new office related to digital assets.

In a new press release, the SEC says it’s set to add a new Office of Crypto Assets to its Division of Corporation Finance’s Disclosure Review Program (DRP).

In the same press release, the SEC announced it would be opening another office for filings targeted at the life sciences sector, another fast-growing sector.

Renee Jones, Director of the Division of Corporation Finance said,

“As a result of recent growth in the crypto asset and the life sciences industries, we saw a need to provide greater and more specialized support in the DRP’s Office of Finance and its Office of Life Sciences…

The creation of these new offices will enable the DRP to enhance its focus in the areas of crypto assets, financial institutions, life sciences, and industrial applications and services and facilitate our ability to meet our mission.”

According to the SEC, both of the new offices will be set up later this year, joining seven already-existing offices.

“The Office of Crypto Assets will continue the work currently performed across the DRP to review filings involving crypto assets. Assigning companies and filings to one office will enable the DRP to better focus its resources and expertise to address the unique and evolving filing review issues related to crypto assets.”

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