With the already existing cryptocurrency task force, the US Securities and Exchange Commission (SEC) now has its crypto advisor. The Wall Street regulator has chosen Valerie A. Szczepanik to lead the application of securities laws to “digital asset technology and innovation” across cryptocurrencies and initial coin offerings (ICOs).
Her appointment is quite fitting, given that Szczepanik was the first SEC official to talk on ICO projects last year when she motivated ICO startups that if they want the industry to succeed, they need to make investor protection a top priority.
It is a newly established position, with her official title being “Associate Director of the Division of Corporation Finance and Senior Advisor for Digital Assets and Innovation for Division Director Bill Hinman,” and it’s just another indicator of the resources that the SEC is putting into the cryptocurrency space regardless of the insufficient regulatory framework.
In a press release, SEC chairman Jay Clayton noted: “With her demonstrated skill, experience, and a keen awareness of the importance of fostering innovation while ensuring investor protection, Val is the right person to coordinate our efforts in this dynamic area that has both promise and risk.”
Szczepanik is presently leading the SEC’s distributed ledger technology (DLT) working team and is a cybersecurity veteran. The SEC is definitely planning to connect her veteran status in securities laws and her knowledge regarding the cryptocurrency space. With her appointment, the SEC is either drawing towards releasing regulation or delaying.