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The soon-to-be-established Office of Crypto Assets will examine crypto filings, allowing DRP to return its attention to filing review concerns pertaining to crypto assets.<a href="https://www.coingabbar.com/en/crypto-currency-news-english/avoid-fear-historical-bitcoin-indicator-extremely-bullish" rel="noopener noreferrer nofollow">The Securities and Exchange Commission (SEC)</a> made the decision to establish two additional offices this fall in order to give specialist support to the seven offices already in charge of assessing issuer filings due to the surge in bitcoin issuer filings in the US.The Office of Crypto Assets and the Office of Industrial Applications and Services will be the only offices under the Division of Corporation Finance’s Disclosure Review Program (DRP) that are entirely responsible for handling<a href="https://www.coingabbar.com/en/gabbar-gbr-token" rel="noopener noreferrer nofollow"> crypto assets</a> and industrial applications and services, respectively.In order to free up resources for resolving the “specific and emerging filing review challenges linked to crypto assets,” the Office of Crypto Assets will take over DRP’s responsibility for reviewing crypto filings. Contrarily, the non-pharmaceutical, non-biotechnological, and non-medical goods of the Office of Life Sciences will be transferred to the Office of Industrial Applications and Services, which will be established.According to an SEC filing, MicroStrategy has stated its intention to sell class A shares valued at $500,000,000 and reinvest the proceeds “for general company objectives, including the acquisition of<a href="https://www.coingabbar.com/en/crypto-research-papers/bitcoin" rel="noopener noreferrer nofollow"> Bitcoin (BTC)</a>.”MicroStrategy currently owns about 129,600 BTC, with a cumulative purchase cost of $3.977 billion over time. The failure of cryptocurrency prices to recover has caused a loss of roughly $1 billion in the company’s BTC holdings, according to statistics from Bitcoin Treasuries.

SEC should use specialised offices for increasing crypto issuer filings

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