Today, Thursday, October 18th, the SEC launched FinHub, the new strategic division for innovation and financial technology, with the aim of simplifying the legality of the products, services and cryptocurrencies provided by the fintech startups that use blockchain and other emerging technologies.
With this new division, the SEC (Securities and Exchange Commission) will be able to play its full role as a securities regulator by supporting entrepreneurs and developers to ensure that their start-up initiatives in the fintech industry are compliant and appropriate, and by eliminating fraudulent websites even before their launch.
Valerie Szczepanik, Senior Advisor for Digital Resources and Innovation, as well as associate director of the SEC Division of Corporate Finance, will manage FinHub’s entire platform, along with other SEC officials.
In a statement, Szczepanik said: “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“.
It is not news that the SEC is looking for a method of inclusion in this technological revolution that has overwhelmed everyone and so, with FinHub as a collaborating body, they can give their legal contribution both to the protection of the investors and to support the entrepreneurs.
Within the platform, it will be possible to receive all the news produced by the SEC on financial technology, from blockchain and artificial intelligence to the entire digital market, without neglecting the DLT – distributed ledger technology and also ICOs – initial coin offerings.
In addition, it will be possible for entrepreneurs to discuss with each other on a FinTech Forum, available next year, or interact directly with SEC consultants for any clarifications via the web or by requesting meetings.
