(Reuters) – The U.S. securities regulator will arrange two new workplaces to cope with filings associated to crypto property and the life sciences sector, the company stated on Friday.

The “Workplace of Crypto Property” and the “Workplace of Industrial Functions and Providers” will be part of seven current workplaces underneath the Securities and Trade Fee (SEC) division which handles company disclosure filings.

“Because of latest development within the crypto asset and the life sciences industries, we noticed a necessity to offer better and extra specialised help,” Renee Jones, director of the Division of Company Finance, stated in a press release.

Cryptocurrencies and different digital property have soared in reputation over latest years and are getting more and more intertwined with the regulated monetary system, saddling policymakers with monitoring dangers in a largely unregulated sector.

2022 has seen a pointy drop in crypto demand although, as world danger sentiment was walloped by the Ukraine disaster, aggressive financial coverage tightening and decades-high inflation.

Allegations of cash laundering in opposition to some crypto corporations in addition to client information violations in the US, the largest marketplace for digital property, have additionally affected demand.