The SEC is Hiring a “Crypto Securities” Advisor
The U.S. Securities and Exchange Commission is looking for a crypto specialist attorney advisor, according to a job posting on USA Jobs, an official government jobs portal. The crypto specialist will earn between $144,850 and $238,787 per year, and they will be responsible for coordinating the Division of Trading and Market’s activities in regards to crypto and digital asset securities.
The successful candidate will need to establish “a comprehensive plan to address crypto and digital asset securities.” The position will also require them to apply “knowledge of federal securities laws to digital asset securities and crypto matters, i.e., broker-dealer, exchange, clearing agency and transfer registrations, exchange product applications, sales and trading practices, etc.”
The SEC’s future crypto specialist will also serve as the division’s lead representative in the SEC’s FinTech Working Group and as a liaison with the FSOC’s Digital Assets Working Group. In order to be eligible, a J.D. or LL.B Degree as well as a proof of bar membership are needed. At least four years J.D. experience is also required.
What does this mean for firm?
Nothing immediately, however, it does indicate that the SEC is taking a more active stance in the cryptocurrency market. As recent actions have indicated, the SEC is looking to control the market and be able to create a more compliant regulatory framework around digital assets and blockchain technology. Specifically, ICOs are going to be more closely monitored. This should come at no surprise, considering recent events. In January, the SEC listed cryptocurrency as a top examination priority for 2019 and in April they provided guidance on the security status of digital assets.
To view the complete job posting, click here.