FinHub is led by Valerie A. Szczepanik, Senior Advisor for Digital Assets and Innovation and Associate Director of the SEC’s Division of Corporation Finance.
It will connect and update the public on SEC-related issues and initiative that are dealing with distributed ledger tech including crypto and the blockchain, digital marketplace financing, automated investment advice, and AI.
SEC promises that the FinHub will also support more sectors via the following actions:
Providing a portal for industry and the public to engage directly with the SEC staff on new ideas and tech developments
Publishing data regarding the SEC’s activity and initiative that involved fintech
Engaging with the public via events and publications, and also a tech forum
Acting as a platform and clearinghouse for SEC staff to gather info and knowledge within the agency
Supporting other domestic and international regulators by serving as a liaison to them regarding regulatory, financial and supervisory systems
Acting as a resource for fintech entrepreneurs, startups and ICOs, focusing on risks, rewards, and responsibilities
SEC Chairman Jay Clayton explained even more in-depth this initiative and 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.”
He continued and detailed that “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 execute our mission.”
The announcement comes after the U.S. lawmakers sent a letter to the SEC asking for more clarity on how they see crypto.