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SEC Division Of Corporation Finance To Add Industry Offices Focused On Crypto Assets – Fin Tech

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On September 9, 2022, the Securities and Exchange Commission
(SEC) announced its latest efforts to assert control
over and regulate the Web3 ecosystem – an Office of Crypto Assets.
This new office will be housed within the Division of Corporation
Finance’s Disclosure Review Program (DRP), which has
historically been the source of focused review of issuer filings.
Once officially established later this fall, the office will join
the seven existing offices of the DRP.

Noting the continued growth of crypto and digital assets
filings, Renee Jones, Director of the Division of Corporation
Finance, commented that the creation of this new office is meant to
address a perceived need for greater and more specialized support
for the DRP’s Office of Finance. Jones says the creation of
this new office will enable the DRP to provide additional focus on
matters relating to digital assets and financial institutions, in
furtherance of the SEC’s mission to protect investors and
regulate markets.

This development comes on the heels of the establishment of a
Crypto Assets and Cyber Unit within the Division of Enforcement
earlier this year.

As the SEC continues rolling out new and more focused
attempts to regulate the Web3 ecosystem, it is crucial that Web3
market participants remain vigilant and stay on the right side of
an ever-moving line. Dinsmore attorneys will continue to monitor
for updates on Web3 regulation and are available to provide counsel
and assistance.

*Tanner is a Law Clerk and not licensed to practice law.

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.

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