The U.S Securities and Exchange Commission (SEC) has launched a Strategic Hub for Innovation and Financial Technology (FinHub) which, according to its chairman Jay Clayton, will provide a central point “…to monitor and engage on innovations in the securities markets that hold promise.”
SEC launches new strategic hub for innovation and financial technology https://t.co/nnFrQpo1Gh
— SEC_News (@SEC_News) October 18, 2018
Valerie Szczepanik, who will lead the FinHub division, said they had “…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.”
In opening FinHub, Szczepanik explained that they “…hope to provide a clear path for entrepreneurs, developers and their advisors to engage with SEC staff, seek input and test ideas.”
Visitors to the FinHub site can access an online form which provides a list of options including the choice of asking for a meeting with a SEC official to discuss matters on a range of topics relating to digital assets.
Although the website is aimed towards domestic companies and investors, it will also serve as a liaison to “…international regulators regarding emerging technologies in financial, regulatory and supervisory systems.”
The new FinHub landing page replaces the old email contact address (Fintech@sec.gov) which was previously established in connection with the issuance of the DAO report last July.
While not formally related, the development follows the U.S. Senate Committee on Banking, Housing and Community Affairs hearing on cryptocurrency and blockchain earlier this month.
During that debate economist Nouriel Roubini raged against digital assets but it appears the SEC’s new stance is more in keeping with the counter points raised by Coin Center’s Peter Van Valkenburgh who spoke in favour of blockchain innovation and described it as “our best hope” for secure systems.