The US Securities and Exchange Commission (SEC) appoints a person in charge of cryptocurrency market and ICO regulation. The main declared aim is to protect retail investors.

SEC appointed Valerie A. Szczepanik as associate director of the division of the corporation for finance and senior advisor for digital assets and innovation for division director Bill Hinman.

"With her proven skill, experience, and keen awareness of the importance of fostering innovation, while maintaining investor protection, Val is the right person to coordinate our efforts in this dynamic area," says SEC Chairman Jay Clayton in a press release.

Szczepanik already heads the task force on distributed ledger technology (DLT), established within the commission. She has been working in cybersecurity for many years. It is expected that her appointment symbolizes the start of a period of more thorough regulation of the cryptocurrency market.

A year ago, Szczepanik noted that projects that attract funding from retail investors by selling tokens should not forget about protecting the interests of their depositors.

"You still have fiduciary duties to your investors," said Valerie Szczepanik, the head of the SEC's distributed ledger group. "If you want this industry to flourish, the protection of investors should be at the forefront."