The US Securities and Exchange Commission (SEC) launched the Strategic Innovation and Financial Technology Center (FinHub) of the Agency, according to an official announcement published on 18 September. October.
The FinHub will be led by Valerie A. Szczepanik, Senior Asset and Digital Asset Advisor and Associate Director of the SEC Corporate Finance Division. The goal of this center is to facilitate the participation of the SEC in the fields related to fintech technology, including, among others, distributed accounting technology (DLT) and digital resources. It will also take on some of the tasks of existing working groups focused on similar issues.
According to the statement, FinHub's main objectives are to provide a portal for industry and the public to interact directly with the SEC staff, promote information on the activities of the SEC and collaborate with other national and international SEC regulators. fintech field. The center also plans to organize a FinTech forum, which will address the DLT and digital resources in 2019.
Szczepanik said that "with the launch of FinHub, we hope to provide a clear path for entrepreneurs, developers and consultants to involve SEC staff, look for information and test ideas". SEC president Jay Clayton said:
"The SEC is committed to working with investors and market players on new approaches to capital formation, market structure and financial services in order to improve and in no way reduce investor protection. central focus point for our efforts to monitor and participate in innovations in the securities markets that are promising but also require a flexible and rapid regulatory response to carry out our mission. "
Following the innovative developments in Finnish technology, other financial control bodies have also been restructured around the world to regulate and monitor the DLT and the cryptocurrency industry more effectively. In July, Japan reformed its financial regulatory authority, the Financial Services Agency (FSA). The new Office of Strategy Development and Management, which has replaced the Office of Inspection, will develop a policy of financial strategy and address issues related to the digital currency market, leading edge technology and money laundering. In addition, the office is responsible for administrative tasks and the inspection of financial institutions.