The U.S. Securities and Exchange Commission (SEC) has officially announced the appointment of Valerie A. Szczepanik as Associate Director of Corporation Finance and Senior Advisor for Digital Assets and Innovation.
In the newly created position, Szczepanik will work to better monitor and apply U.S. securities laws to emerging digital asset technologies and innovations, including cryptocurrencies and ICOs. Szczepanik will coordinate across all SEC divisions and offices.
Speaking on her new appointment, Szczepanik expressed excitement regarding the potential collaborations across industries to create a more regulated cryptocurrency environment.
“I am excited to take on this new role in support of the SEC’s efforts to address digital assets and innovation as it carries out its mission to facilitate capital formation, promote fair, orderly, and efficient markets, and protect investors, particularly Main Street investors. I look forward to working closely with staff across the agency, our regulatory partners, and the public as we provide a coordinated and strategic response to developments.”
Szczepanik was formerly the head of the SEC’s Distributed Ledger Technology Working Group, co-head of its Dark Web Working Group, and a member of its FinTech Working Group.
This news marks yet another major push towards expanding the regulatory framework to better combat fraud within the crypto markets, an issue that has shown little indication of slowing. Just last week, the SEC obtained a court order to cease the operations of a fraudulent ICO that raised as much as $21 million. The entity behind the scam, Titanium Blockchain Infrastructure Services Inc. also had its assets frozen by the court.
It now looks to be a matter of when, not if, the U.S. will tighten regulations on digital assets.