SEC Set to Deal With Increasing Cryptocurrency Issuer Cases Using Special Offices

As cases coming from Crypto issuers in the US continues to flow in, SEC is making arrangements to establish offices that will offer a special kind of assistance to the already existing offices that are charged with the responsibility of looking into issuer cases.

The Security Exchange Commission declared its plan of establishing two offices, with one of the offices will be an office for Cryptocurrency properties and the other one for Industrial applications and Services. The first office will be concerned with crypto assets and the other with industrial applications and services.

Going by the declaration, the office of Cryptocurrency properties will take charge of DRP’s (Disclosure Review Program) moves to look into cryptocurrency cases. Consequently, this will enable the DRP to re-direct its resources towards solving developing cases that are crypto-related.

More Details on This Development
The other newly established offices will be charged with non-pharmaceutical, non-biotechnological, and non-medicinal products, all of Which were formally handled by the office of Life Sciences.

One of the latest Security Exchange Commission cases showed that MicroStrategy is planning to sell stocks valued at five hundred million dollars. The company intends to invest the proceeds in Bitcoin.

Currently, MicroStrategy possesses a hundred and twenty-nine thousand, six hundred and ninety-nine BTC. These were bought over many years valued at three points nine, seven, seven billion dollars. As Cryptocurrency crashes the company’s Bitcoin reserve has lost a billion dollars in value, as disclosed by Bitcoin Treasury data.

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