The Securities and Exchange Commission’s new divisions intend to reconsider the issue of the expanding number of cryptocurrency service providers’ requests. Thus, the Disclosure Review Program is able to conduct a thorough investigation into the question of satisfying requests involving crypto assets.
In light of the deluge of filings submitted by U.S. cryptocurrency service providers, the SEC has devised a plan to open up to two additional private offices this summer. The agency has taken this step to aid the seven existing offices functioning as regulators in dealing with issues pertaining to filings.
To accommodate the growing volume of filings from cryptocurrency service providers, the SEC plans to open two additional regional offices.
In light of the work done by the Corporation Finance division’s Disclosure Review Program (DRP), the SEC has announced plans to expand to include two new divisions. Each has its own department name, with “Office of Industrial Applications and Services” and “Office of Crypto Assets” being two examples.
Renee Jones, director of the Department of Corporation Finance, provided his thoughts on the matter. He went on to say that the agency’s new structure, with its two new departments, would help the Disclosure Review Program give special attention to all areas of crypto assets, including the medical and financial sectors as well as other industries and their applications.
According to the announcement, the Office of Crypto Assets is now responsible for continuing DRP’s work in reviewing applications related to the cryptocurrency industry. It will make it easier for the office to prioritize funding solutions for novel and exclusive problems arising from filing reviews involving crypto assets.
In response, the Office of Industrial Applications and Services will work to secure a monopoly on the Life Sciences Division’s non-medical, non-pharmaceutical, and non-biotech offerings. MicroStrategy plans to trade up to $500,000,000 in class A stocks, according to an exclusive SEC filing, in order to achieve the company’s overall goals, including the acquisition of BTC, by reinvesting the capital.
At $129,699, MicroStrategy’s Bitcoin Holdings Have Grown Significantly
MicroStrategy currently stores close to $129,699 worth of Bitcoin. Over the course of several years, a total of $3.977 trillion was amassed for the respective investments. According to Bitcoin Treasuries data, the company is losing over $1 billion in Bitcoin reserves as cryptocurrency prices fail to recover.