SEC to Process Growing Filings by Crypto Issuers with Dedicated Desks

Upcoming Office of Crypto Assets will review crypto deposits, allowing DRP to refocus on deposit review issues related to crypto assets .

In light of the influx of filings from cryptocurrency issuers in the United States, the Securities and Exchange Commission (SEC) has decided to establish two new offices this fall to provide expert support to the seven offices currently responsible for reviewing issuers' filings.

As part of the Corporate Finance Division's Disclosure Review Program (DRP), the SEC has announced plans to add two offices: a Crypto Assets Office and an Industry Applications and Services Office , solely focused on crypto asset management and industrial applications, and services, respectively.

Sharing her perspective on the move, Renee Jones, Director of the Corporate Finance Division, said:

"The creation of these new offices will allow the DRP to focus more on the areas of crypto assets, financial institutions, life sciences and industrial applications and services and will facilitate our ability to fulfill our mission."< /p>

According to the announcement, the Office of Crypto Assets will support DRP's efforts to review crypto repositories, allowing the department to refocus its resources "to address unique and evolving asset-related record review issues. cryptographic".

The Bureau of Industrial Applications and Services, meanwhile, will be created to take over non-pharmaceutical, non-biotech, and non-medicinal products from the Bureau of Life Sciences.

Related: Brazilian SEC Seeks to Change Its Role in Cryptocurrency Regulation

A recent SEC filing revealed MicroStrategy's intention to sell $500,000,000 worth of Class A stock and reinvest the capital "for general purposes, including