SEC US and crypto surveillance: a new dedicated office soon in place?

More problems or finally solutions? – One of the two main US financial watchdogs, the Securities and Exchange Commission (SEC), has a relationship that we will describe as very complicated with cryptocurrencies. Some projects, like Ripple and its XRP token, must suffer. It’s hard to say whether this will make things worse or better, but the SEC now wants to open a fully serviced consecrated to crypto-assets.

Does the SEC want a “CBI” (Crypto-Bureau of Investigation) ?

When the DRY is not busy playing the watch and refuse a physical ETF of Bitcoin (BTC), she randomly attacks crypto projects. If in some cases these are real scams (scams) should be punished. In some others it is much more contentious.

Thus, the Commission tends to attack in an unpredictable way cryptocurrencies resembling too closely (in its eyes) to securities (securities). Ripple and his XRP are well (badly) placed to know.

Reassuring or worrying, the SEC announces in a recent communicated release that she wants to create a dedicated office in the case of cryptos. It’s about Office of Crypto Assets » (the Office of Crypto-assets).

A service dedicated to crypto soon in place?

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A massive crypto sector that needs more oversight?

The constitution of this new special division has become a necessity. Indeed, Bitcoin and its ilk are experiencing a exponential adoption worldwide.

“Due to the recent growth of the cryptocurrency industry (…) we have seen the need to provide greater and more specialized support to the Office of Finance. (…)”

Renee Jones, director of the SEC’s Division of Corporation Finance

The purpose of the maneuver is to “better targeting of resources and expertise” of its crypto-asset issuer application review service. The SEC indeed recognizes the incredible liveliness of innovation in the digital currency sector. This one presents “unique issues” and is “constantly evolving”.

The fact that the SEC deals with cryptocurrencies engages a tiny hope. Thus, nothing says that the specialized experts of the regulator will have a positive attitude for the crypto sector. The financial policeman does indeed very aggressive towards crypto projects. Often suddenly and unexpectedly, when the cryptocurrencies in question have been around for years. And with a law on securities fully outdated and inappropriate to crypto-assets, arbitrariness reigns.

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