SEC Appoints Valerie Szczepanik for Cryptocurrencies and ICOs

SEC Valerie Szczepanik for Cryptocurrencies and ICOs - CoinShot

In recent months, the US Securities and Exchange Commission (SEC) has stepped up its participation in the cryptocurrency space. The regulating agency sent summonses to the court and conducted an investigation on several crypto projects, and some investigations led to arrests and criminal charges. So, as a result of the SEC investigation, Centra Tech founders were charged with fraud and conducting an unregistered securities placement.

The unclear state of cryptocurrency rules in the United States by many authors was called the key reason for the reluctance of institutional investors to interact with crypto assets, but sooner or later there will be more clarity on this front. Bloomberg recently reported on an investigation conducted by the US Department of Justice and the CFTC on possible methods of manipulating markets on the exchange of cryptocurrencies.

Regulators also take internal steps to adapt to crypto markets, as new problems arise in space that need to be addressed appropriately. The SEC recently appointed Valerie A. Szczepanik as Associate Director of the Division of Corporation Finance and Senior Advisor for Digital Assets and Innovation for Division Director Bill Hinman. In this newly created advisory position, Ms. Szczepanik will coordinate 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 (ICO) and cryptocurrencies.

Chairman Jay Clayton commented Valerie 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.
With her demonstrated skill, experience, and 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.”

It seems that the SEC in accordance with the crypto sphere, as it was with the fictional ICO HoweyCoins, set the goal of educating investors. The HoweyCoins website can be set as an example of a scam and a parody of dubious ICO projects, using all the latest fashion words, marketing tactics, ensuring long-term results and even promising a “pre-planned pump” that will bring huge profits.