The U.S. Securities and Exchange Commission (SEC) oversees all transactions related to secure financial transactions for both businesses and individuals. In an effort to have greater control over their handling of crypto and token sales, the SEC has awarded Valerie Szczepanik the position of associate director. She will oversee the Division of Corporate Finance and will work as a senior advisor for matters relating to digital assets and the new strides that the community takes.
As the SEC dictates, Szczepanik’s main role will be to “coordinate efforts across all SEC Divisions and Offices regarding the application of U.S. securities laws to emerging digital asset technologies and innovations, including initial coin offerings and cryptocurrencies.”
Szczepanik expressed her excitement over taking on this position with the SEC. She continued on, saying that she is ready to take part in “its mission to facilitate capital formation, promote fair, orderly, and efficient markets, and protect investors, particularly Main Street investors.”
This is a fairly important time for the industry to have her an authoritative position, considering the pivotal point that crypto is at with the SEC. There have been many potential scams and fraudulent projects coming out lately, and the help of a senior advisor in this area may help the SEC approach the corrections with greater balance.
During this time, the SEC has also released many publications that help investors to maintain a clear idea of what to expect in their transactions. One report, which is no longer relevant due to the inactive TheDAO, showed that the securities laws in place “may apply” with some of the token sales. The SEC seems to retain some of their humor, especially with the launch of parody websites for ICOs, like HoweyCoin.