The U.S. Securities and Exchange Commission (SEC) is launching a new division with the goal of making it simpler for fintech startups – including those launching initial coin offerings (ICOs) – to navigate the legal implications of their products.
Announced Thursday, the Strategic Hub for Innovation and Financial Technology (FinHub) will act as a central point for the securities regulator to interact with entrepreneurs and developers in the financial technology world, in particular with groups focusing on distributed ledger technology (DLT), automated investment advice, digital marketplace financing and artificial intelligence.
As envisioned, FinHub will both publicize information produced by the SEC, as well as let innovators ask questions or clarify regulations. The new division will also collaborate with other regulators, both domestic and international, on work that involves emerging technologies. Additionally, FinHub will host a FinTech Forum focused specifically on DLT and digital assets next year.
FinHub will be run by the SEC's senior advisor for digital assets and innovation, Valerie Szczepanik, and be staffed by SEC officials who have previously worked on fintech-related issues.
🤔Do you think this new division will help the regulation process improve? 🗣Let us know in a few words!
Follow us @cookeesinc
to get more Information about Bitcoin