SEC launches new FinHub to engage with crypto and fintech innovations

03 Dec, 2018
by David Robb
SEC launches new FinHub to engage with crypto and fintech innovations

The Securities and Exchanges Commission (SEC) has launched a new strategic hub, the FinHub. This is intended to improve public engagement with the SEC's work on fintech innovations, including crypto and blockchain technology.

According to a press release, the FinHub will provide "a portal for industry and the public to engage directly with SEC staff on innovative ideas and technological developments". It will also help with the publication and dissemination of advice and information about new financial innovations, as well as organizing events, with a FinTech Forum planned for 2019. Liaising with other regulators from around the U.S. and further afield is another key purpose of the FinHub.

The FinHub will be led by Valerie A. Szczepanik. She is the Senior Advisor for Digital Assets and Innovation, and Associate Director in the SEC's Division of Corporation Finance. According to Szczepanik, "staff across the agency have been engaged for some time in efforts to understand emerging technologies, communicate the agency's stance on new issues, and facilitate beneficial innovations in the securities industry. By launching FinHub, we hope to provide a clear path for entrepreneurs, developers, and their advisers to engage with SEC staff, seek input, and test ideas."

In a recent interview, SEC commissioner and 'Crypto Mom' Hester Peirce stressed the importance of public engagement with the SEC. She claimed that productive commentary from members of the crypto space about issues such as a Bitcoin ETF approval were incredibly useful to the commission's work.

Read more: Crypto ETF is "definitely possible": SEC's 'Crypto Mom' Hester PeirceSEC Chairman Jay Clayton gives insight into how the SEC sees crypto

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