What is the SEC's Office of Crypto Assets?
The Office of Crypto Assets will launch this fall and will be part of the U.S. Securities and Exchange Commission (SEC)'s Division of Corporation Finance's Disclosure Review Program (DRP), focusing on reviewing company filings by issuers, according to an SEC press release dated September 9, 2022. [1]
The office will "provide focused review of issuer filings and that are grouped by industry expertise to further the Division’s work to promote capital formation and protect investors."
For the SEC, an issuer is generally an organization that has issued securities that are registered with the SEC or that is required to report to the SEC.[2] This suggests that the SEC wants to see more actors in the crypto industry, presumably issuers of crypto tokens, registering with the SEC.
One day before the announcement, on September 9, 2022, SEC Chair Gary Gensler reiterated his views that the "vast majority" of crypto tokens are securities that must be registered with the SEC.[3]
References[edit]
- ↑ "SEC.gov - SEC Division of Corporation Finance to Add Industry Offices Focused on Crypto Assets and Industrial Applications and Services". www.sec.gov. Retrieved 2022-09-22.
- ↑ "NATIONAL INSTRUMENT 51-101 Consolidated to April 23, 2013 847 S-42.2 REG 3 STANDARDS OF DISCLOSURE FOR OIL AND GAS ACTIVITIES" (PDF). April 23, 2013.
- ↑ "SEC Chair Gensler says 'vast majority' of cryptocurrencies are securities". finance.yahoo.com. Retrieved 2022-09-22.