The US Securities and Exchange Commission (SEC) hopes to increase its cryptocurrency capabilities by hiring a “cryptocurrency financial analyst”.
This job posting was released in early April this year, which mentions a brief introduction to the job:
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The position of this cryptocurrency expert needs to provide expertise and coordination activities on cryptocurrency and digital asset securities. Responsibilities include coordinating with departmental staff to develop a comprehensive plan for cryptocurrency and digital asset securities; liaising with other departments and offices on relevant matters; as the department and domestic and international regulators, market participants and the public Contact; provide expert-level advice on policies and workflows.
The specific responsibilities of the SEC Cryptographic Analyst are as follows:
– Develop and maintain professional knowledge of cryptocurrency, digital asset securities and related products, and understand the development of domestic and foreign laws and policies;
– Applying the federal securities law to digital asset securities and cryptocurrencies, ie broker-dealers, exchanges, settlement institutions and transfer registration, exchange product application, sales and trading practices;
– Regular meetings with departmental and institutional staff to promote collaboration and open communication, and to provide timely information and understanding of important issues and developments in relevant industries, laws and policies;
– Serving as the chief representative of the Financial Technology Working Group of the Securities and Exchange Commission and liaising with the FSOC (Financial Stability Regulatory Commission) Digital Assets Working Group;
– Keep in touch with relevant departmental staff, report important progress to the Office of the Chairman and the Office of the Commissioner, and attend meetings with the industry and the public on behalf of the department. In other words, the analyst will have an expert knowledge of global cryptocurrency products, policies, and legal affairs, as well as the ability to apply federal securities laws to digital assets and cryptocurrency.
The salary of this position is as interesting as the responsibilities. The analyst's annual salary is expected to be between $144,850 and $238,787, with a probationary period of one year.
Since the ICO market opened its craze in 2017, the SEC has become more and more concerned about cryptocurrencies. As for the Howey test and other standards, the SEC believes that some tokens should belong to securities and need to be included in the SEC's regulatory scope.
This means that the SEC should have a deeper understanding of the cryptocurrency market. With the rise of cryptocurrency derivatives such as Bitcoin ETFs in recent years, it is hoped that the voices of such products will pass higher and higher. Although many similar applications have been rejected, it is believed that in this process, the SEC's understanding of cryptocurrencies will gradually deepen, eventually giving the market a more rational answer.