The American Securities and Exchange Commission (SEC) will establish two new offices aimed at dealing with crypto assets and the life sciences sector, according to a statement published by the SEC yesterday (Fri). The Office of Crypto Assets and the Office of Industrial Applications and Services Services) will join the seven existing dedicated offices operating under the authority responsible for managing corporate documents.
“Following the growth in the field of crypto-assets and the life sciences industry, we realized that there was a need to provide greater and more professional assistance,” said Renee Jones, director of the corporate finance division.
The popularity of cryptocurrencies and digital assets has soared in recent years, and they are becoming increasingly integrated with the regulated financial system, resulting in regulators having to deal with increased risk management in a largely unregulated sector.
However, 2022 saw a decline in demand for crypto, this against the background of the war in Ukraine, an aggressive tightening of monetary policy around the world and an inflation rate that climbed to its highest level in decades.