The Securities and Exchange Commission has named Valerie A. Szczepanik to a new post that reflects the growing importance of cryptocurrencies.
Szczepanik, formerly assistant director in the Division of Enforcement’s Cyber Unit, has been named associate director of the Division of Corporation Finance and senior adviser for digital assets and innovation. In her role as “crypto czar” she is tasked with coordinating efforts “across all SEC divisions and offices regarding the application of U.S. securities laws to emerging digital asset technologies and innovations, including Initial Coin Offerings and cryptocurrencies,” according to an SEC press release.
The announcement Monday of her new role took place days before SEC chief Jay Clayton restated his belief that cryptocurrencies that serve as substitutes for sovereign currencies are not securities and said the SEC isn’t ready to change its definition of “securities” any time soon. Read more here.