The US securities regulator will set up two new offices to handle files related to crypto assets and the life sciences sector, the agency said Friday.
The “Office of Crypto Assets” and the “Office of Industrial Applications and Services” will join seven existing offices under the Securities and Exchange Commission (SEC) Division, which handles corporate disclosure filings.
“As a result of the recent growth in the crypto assets and life sciences industries, we saw the need to provide more and more specialized support,” Renee Jones, director of the Division of Corporation Finance, said in a statement.
Cryptocurrencies and other digital assets have soared in popularity in recent years and are becoming increasingly intertwined with the regulated financial system, leaving policymakers with the task of monitoring risk in a largely unregulated industry.
However, in 2022, demand for crypto has fallen sharply as global risk sentiment was dominated by the crisis in Ukraine, aggressive monetary policy tightening and decades of high inflation.
Money laundering allegations against some crypto companies and consumer data violations in the United States, the largest market for digital assets, have also impacted demand.
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