The United States Securities and Exchange Commission (SEC) are spearheading the cryptocurrency regulation drive in the United States. As a result of this, the SEC are delving into all wakes of cryptocurrency and the blockchain revolution in order to better understand how cryptocurrencies could impact the United States economy. Moreover, the SEC are also ingrained in various different cases where cryptocurrencies are considered as securities, Ripple XRP for example. To put it bluntly, the SEC are pretty busy right now.
This however, hasn’t stopped them from appointing a new overseer in the form of a Senior Advisor for Digital Assets and Innovation. According to ICO Examiner, Valerie Szczepanik has today been appointed as the Senior Advisor for Digital Assets and Innovation and as a result, will lead the charge among the teams working within the cryptocurrency investigation branch of the SEC.
According to ICO Examiner, Szczepanik’s role will see her:
“Coordinate efforts across all SEC Divisions and Offices to ensure the correction application of U.S. securities laws to emerging digital asset technologies and innovations, including Initial Coin Offerings and cryptocurrencies.”
According to the Director of the Division, Bill Hinman, Szczepanik’s appointment here is vital, given that she has been prolific as a leader within research amongst the markets. According to ICO Examiner, Hinman said:
“Ms. Szczepanik cottoned on early to the securities law implications of developments like blockchain and distributed ledger technologies, and is a recognized leader in responding to developments in our markets.”
See the full report from ICO Examiner for yourself, here- https://www.icoexaminer.com/ico-news/sec-appoints-valerie-szczepanik-as-crypto-tsar/
Why is this important?
With new figureheads often comes new ideas and new inspirations. By bringing new expertise into the campaign, the SEC have opened up new avenues for exploration. Now this is very important as the cryptocurrency markets are very reactive to moves made by the SEC, therefore we should consider this appointment as a very powerful one. In short, we can expect to see the markets react to this news, once Szczepanik gets settled into the role and starts making changes. As a Senior Adviser, her advice will resonate within the SEC and thus, will go on to shape the future regulation of cryptocurrencies in the United States. Therefore, this news, is pretty big and thus, should not be underestimated.
Hopefully, Szczepanik will move the SEC forward into the cryptocurrency revolution and thus, her advice will remain positive about crypto and positive about blockchain. With this, Szczepanik certainly has the power to see real innovation take hold of the US markets.