The US securities regulator will set up two new offices to deal with filings related to the crypto asset and life sciences sector, the agency said on Friday.
The “Office of Crypto Assets” and “Office of Industrial Applications and Services” will join seven existing offices under the Securities and Exchange Commission (SEC) department that handle corporate disclosure filings.
“As a result of the recent growth in the crypto asset and life science industries, we need to provide more and more specialized support,” Renee Jones, director of the Corporation Finance Division, said in a statement.
Cryptocurrencies and other digital assets have grown in popularity in recent years and are increasingly associated with the regulated financial system, troubling policymakers with oversight of risk in a largely unregulated sector.
2022 has seen a sharp decline in crypto demand, although global risk sentiment was beset by the Ukraine crisis, aggressive monetary policy tightening and decades-high inflation.
Accusations of money laundering against some crypto firms, as well as consumer data breaches in the United States, the largest market for digital assets, have also hit demand.
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