The US Securities and Exchange Commission (SEC) has officially announced its intention to open two new offices: the first will deal with cases related to the cryptocurrency industry, and the second will specialize in the life sciences industry, writes Reuters. The new departments of the US regulator will be called the Office of Crypto Assets and the Office of Industrial Applications and Services.
The new offices, according to Reuters, will join the seven existing offices of the Securities and Exchange Commission (SEC) division that handles corporate filings.
“As a result of the recent rise in crypto assets, we have seen the need to provide broader and more specialized support,” says Renee Jones, director of corporate finance at the SEC.
Cryptocurrencies and other digital assets have exploded in popularity in recent years, and they are increasingly intertwined with the regulated financial system, burdening policy makers with the need to track risks in such a highly unregulated sector.