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CFO Jimmy Patronis: SEC Right to Appoint Cryptocurrency Chief

6/7/2018

For Immediate Release: Thursday, June 7, 2018
Contact: Anna Alexopoulos Farrar, 850.413.2842, anna.farrar@myfloridacfo.com  
 
CFO Jimmy Patronis: SEC Right to Appoint Cryptocurrency Chief
 
TALLAHASSEE, Fla.—Florida Chief Financial Officer (CFO) Jimmy Patronis released the following statement regarding the U.S. Securities and Exchange Commission’s (SEC) appointment of Valerie Szczepanik as the first cryptocurrency adviser. As Associate Director of the Division of Corporation Finance and Senior Adviser for Digital Assets and Innovation, Szczepanik will oversee how securities laws apply to emerging digital asset technologies, including Initial Coin Offerings and cryptocurrencies.
 
CFO Jimmy Patronis said, “The SEC’s appointment of a cryptocurrency chief is a forward-thinking and bold move. My office has been closely following cryptocurrency, and as with all emerging technology, there comes a new risk for consumers to be defrauded. With the Seminole County Tax Collector now accepting bitcoin as a form of payment and Tampa/St. Petersburg and Miami/Ft. Lauderdale ranking seventh and eighth in the top 10 bitcoin-friendly cities, it’s important we stay ahead of the game when it comes to consumer protection.
 
“Just last week my office issued a consumer alert on cryptocurrency investment scams. Today, I’ve directed my staff to set up a call with Associate Director Szczepanik to discuss how we can continue to protect consumers in our state.”
 
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About CFO Jimmy Patronis
Chief Financial Officer and State Fire Marshal Jimmy Patronis is a native Floridian and a member of Florida’s Cabinet, who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida’s firefighters, and ensure the state’s finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and Twitter (@FLDFS).