According to Renee Jones, Director of the Division of Corporation Finance, “As a result of recent growth in the crypto asset and the life sciences industries, we saw a need to provide greater and more specialized support in the DRP’s Office of Finance and its Office of Life Sciences.”
The US Securities and Exchange Commission announced its plans to set up two new offices to support its seven existing offices in matters related to crypto asset filings.
The notice claims that the federal agency’s new offices: the Office of Crypto Assets and Office of Industrial Applications and Services, will be established later this fall.
“The two new offices will join the seven existing offices that provide focused review of issuer filings and that are grouped by industry expertise to further the Division’s work to promote capital formation and protect investors.”
The Office of Crypto Assets will review all crypto-related filings, while the Office of Industrial Applications and Services will be responsible for “non-pharma, non-biotech, and non-medicinal” product companies previously assigned to the Office of Life Sciences.
The offices will be placed under the Division of Corporation Finance’s Disclosure Review Program (DRP) to expand its focus into the crypto industry, industrial applications, and life sciences.
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