At the SXSW held in Austin, the U.S. Securities and Exchange Commission’s Valerie Szczepanik said that she is sure about the crypto markets blooming again.
“I do think if we hope to smell the crypto spring in the air, it will take people walking with the regulators. But I do think the spring is going to come.”
In 2018, in an effort to have greater control over their handling of crypto and token sales, the SEC had awarded Valerie Szczepanik the position of associate director. She oversaw the Division of Corporate Finance and worked as a senior advisor for matters relating to digital assets and the new strides that the community takes.
Szczepanik previously led the SEC’s Distributed Ledger Technology Working Group and is now the associate director of the Division of Corporation Finance, as well as the senior advisor for digital assets and innovation at the commission.
The SEC preparing to launch a nationwide tour that will allow its FinHub division to meet with crypto startups and fintech companies to discuss, from the commission’s point of view, legal requirements and restrictions regarding digital asset implementation and use. he first will be led by the SEC’s San Francisco office. That meeting will be organized by Szczepanik, who will be discussing tokens and coins during the upcoming meetings.
The purpose of these face-to-face meetings – dubbed “Local P2P” on the FinHub website – is to help crypto startups “put a human face on the regulator.” She adds:
“We really do want to engage with folks that are seeking to innovate in this area and they should know that it’s typically a positive experience. I’m hoping to keep this going at the local level too, recognizing that not everyone can travel to D.C. or New York.”
There is a strong call for regulatory agencies to better understand cryptocurrencies, the blockchain, and other emerging technologies so as to create an enabling environment that will benefit innovation in these areas rather than stifle its growth. FinHub is SEC’s answer to this.
Although, SEC staffers will not be giving legal advice to the entrepreneurs and innovators during the tour.