SEC Is Hiring a Dedicated Staff Member to Offer Expertise on Cryptocurrency

By Kapil Gauhar

Finance regulator of the United States, the Securities and Exchange Commission (SEC), is planning to hire in-house cryptocurrency specialist to provide expertise on digital currency, a job application which appeared originally on April 5th confirms.

The SEC that continues to iron out policy about US domestic treatment of digital tokens will pay up to $239,000 every year for its Cryptocurrency Specialist, who will serve several consulting roles.

A summary of the position reads –

“The Crypto Specialist provides expertise and coordinates TM activities regarding crypto and digital asset securities.”

The summary continues –

“Duties include coordination with Division staff to establish a comprehensive plan to address crypto and digital asset securities; engage with other Divisions and Offices on such matters; serve as the Division’s point of contact for domestic and international regulators, market participants, and the public; provide expert level comment on policy and workstreams.”

Market participants are inquisitive to see how the current patchwork regulatory atmosphere evolves. The Securities and Exchange Commission is devoting sufficient energy to make sure that the tokens, as well as their issuers, abide by existing securities laws while targeting businesses with legal procedures to ensure compliance.

Slow progress, at the same time, has been made with the application for bringing crypto-related products to the market, particularly Bitcoin and Ethereum ETFs, that remain under scrutiny.

The situation has even seen leverage by politicians, with Andrew Yang, one presidential hopeful, releasing a dedicated policy statement this month whereby he promises to overhaul cryptocurrency law of the country.