Cryptocurrencies are one of the top priorities of the United States Securities and Exchange Commission (SEC) this year, according to an official statement announced by the Commission on December 20.
In the recent OCIE report (Office of Compliance Inspections and Examinations), digital resources, specified as cryptocurrencies, coins and tokens, are included among the six "themes for OCIE's 2019 exam priorities. ".
The report states that the office is planning to focus on monitoring emerging markets and enforcing compliance with existing laws:
"OCIE will continue to monitor the supply and sale, trade and management of digital assets and, where the products are securities, will review regulatory compliance."
In terms of other objectives of the examination of the cryptographic office, the document also states:
"In particular, through high-level surveys, OCIE will take steps to identify [cryptocurrency] market participants. "
The report states that the office will examine the management of the portfolio of digital assets, the trade, the security of funds and customer assets, the determination of client portfolios, compliance and internal controls of encrypted companies.
As Cointelegraph reported in December last year, SEC President Jay Clayton said the first coin offerings (ICOs) "may be effective" but that "the securities law must be followed". In addition, according to Clayton, ICOs operate in a way that guarantees investor protection substantially lower than that of traditional equity and bond markets.
In October, the SEC launched the Strategic Hub for Innovation and Financial Technology (FinHub) of the agency. The hub aims to facilitate SEC's engagement in the fintech fields, including distributed ledger technology and digital resources.