Home News Blockchain SEC launches a fintech hub called FinHub for Innovation and Financial Technology

SEC launches a fintech hub called FinHub for Innovation and Financial Technology

October 21, 2018 13:04

The Securities and Exchange Commission (SEC) of the United States has announced on 18th Oct that it is going to launch a fintech hub called FinHub.

This gateway will enable the governing body to collaborate with organizations who are engaged with blockchain, automated investment tips, artificial intelligence, etc. It is expected that FinHub will turn into a connection between the controller and business people and developers.

SEC has been firmly watching the new companies that are using blockchain innovation and artificial intelligence. The FinHub portal is moving in the direction of streamlining the way towards forming a compliant platform before the portal launches.

The new portal will publish all the recent data from the SEC, and additionally, give a chance to start-ups to ask their very own inquiries and receive advice on the regulation of their venture. Moreover, FinHub will connect with different controllers both inside the United States and universally, and will likewise have the FinTech Forum which is a specially designed discussion forum dedicated to digital assets and distributed registry technology.

The SEC’s FinHub will be driven by the SEC’s Division of Corporation Finance’s Senior Advisor for Digital Assets and Innovation and Associate Director, Valerie A. Szczepanik and staffed by the representatives from the SEC’s divisions and workplaces who have ability and inclusion in FinTech-related issues.

Valerie A. Szczepanik said,

“SEC 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.”

SEC Chairman Jay Clayton said,

“The SEC is committed to working with investors and market participants on new approaches to capital formation, market structure, and financial services, with an eye toward enhancing, and in no way reducing investor protection. The FinHub provides a central point of focus for our efforts to monitor and engage on innovations in the securities markets that hold promise, but which also require a flexible, prompt regulatory response to executing our mission.”   

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