This New Regulatory Position Is The SEC’s Latest Move Towards More Oversight For Cryptocurrencies And ICOs

The Securities AndExchange Commission in the U.S has announced that it has hired Valerie Szczepanik to fill a new senior position through which she will be tasked with regulations regarding digital currencies and Initial Coin Offerings (ICOs).

The SEC created the new position to coordinate efforts in all its offices and divisions pertaining to the application of laws that govern innovative technologies that are associated with digital currencies. This includes guidelines for cryptocurrencies such as Bitcoin (BTC) as well as ICOs. Szczepanik will act as an associate director to the SEC’s Division of Corporation Finance and also the senior advisor for cryptocurrency-related matters.

SEC Chairman Jay Clayton had positive things to say about Szczepanik and her new position: “Valerie’s thought leadership in this area is recognized both within the Commission and across financial regulators in the United States and abroad,”

Clayton further added that Valerie is the right person to handle the new position especially because of her experience, skill, and awareness about the need to encourage innovative technologies while making sure that investors are protected. Szczepanik stated that she was pleased to be part of the SEC and also excited about taking on a new role through which she will contribute to the regulatory authority’s efforts towards cryptocurrencies and innovation.

Valerie also acknowledged the SEC’s mission of promoting orderly, efficient, and fair markets in order to protect investors. Bill Hinman, the director of the Digital Assets and Innovation division stated that he was pleased to have Valerie as part of his team especially as the SEC continues to team up with issuers, investors, and other market players.

Hinman stated that Szczepanik recognized the impact of regulations on the development of technologies such as blockchain at an early stage. He also described her as a recognized leader who is aware of how to respond to new developments in the market.

Valerie has been a member of the SEC since 1997 which means she has accumulated a lot of skills necessary to oversee major sectors such as the cryptocurrency market. She served as the Assistant Director in the cyber enforcement division of the SEC as hermost recent role. Valerie also helms the Distributed Ledger Technology Working Group at the SEC and is also one of the heads at the regulator’s Dark Web Working Group. Valerie also happens to be a member of the SEC’s FinTech Working Group.