Senior Compliance Officers find it Difficult to Adapt to the Crypto Industry and Blockchain Basis

U.S Securities and Exchange Commission (SEC)’s latest appointed officer is none other than Valerie Szczepanik, who was given the responsibility to oversee the cryptocurrency industry. She is definitely one that doesn’t stand against innovation, however, she believes that the lack of compliance on the part of crypto investors, is what’s bringing unnecessary complexities.

In particular, Senior Advisor Szczepanik explicitly stated that,

“We want people to come talk to us […] When I’m in meetings with folks, I want them to see me as someone who’s interested in communication and back and forth and looking to encourage innovation that helps investors and the markets.”

Based on BCFocus’ reporting, Szczepanik has had interest for the likes of cryptocurrencies and blockchain technology for nearly six years, hence her yearn for investors to come into compliance with regulators does not necessary mean a restricted market.

Despite the positivity, many still don’t seem to sit well with what’s requested, as Republican Commissioner, Hester Pierce believes people are hesitant of the SEC because they perceive it as “going through enforcement”.

Former lawyer, William Hinman believes that Szczepanik’s efforts is surely to be transformative, adding that “Early days in this space, a lot of the activity just didn’t come into any other division other than enforcement […] Folks weren’t coming to use and saying, Oh, I have a security, let me register it with corporation finance.”

As a final thought, the newly-appointed official hopes to see more individuals abiding by the laws, adding that the failure to do so can result in a “different tack”. Effort is key and if she feels crypto investors aren’t putting in their part, then a different direction will be taken.

Get Free Email Updates!

*Action Required* Enter Your Email for Trending Crypto News & Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Coin Market Cap Price Change 24 Hour Volume
BTC $163.79B $9,221.0497 6.41% $7.65B
ETH $29.1B $273.2027 3.56% $2.36B
XRP $17.8B $0.4189 3.46% $661.04M
LTC $8.44B $135.5732 0.26% $879.93M
BCH $7.76B $435.1518 4.34% $312.16M
EOS $6.52B $7.0968 6.45% $999.93M
BNB $4.61B $32.6256 -1.51% $228.99M
BSV $3.82B $214.1122 2.94% $127.64M
USDT $3.45B $1.0025 -0.27% $6.95B
XLM $2.5B $0.1288 3.32% $91.84M

Get 3 Free Bitcoin eBooks for Limited Time Only

Receive three exclusive user guides detailing a) What is Bitcoin b) How Cryptocurrency Works and c) Top Crypto Exchanges today plus a bonus report on Blockchain distributed ledger technology plus top news insights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.