SEC to create a new crypto division

Victoria SavchukOctober 19, 201839

The U.S. Securities Exchange Commission will open its new division aiming to lighten fintech startups, including ICO running to help with legal issues.

Announced on Thursday, Strategic Hub for Innovation and Financial Technology (FinHub) will act for the securities regulator as a liaison between entrepreneurs and developers in the fintech field, incuding DLT oriented groups, automated investment advice, digital market financing and artificial intelligence.

As it was expected, FinHub will publish information prepared by SEC as well as let its newcomers ask questions or specify rules. The new hub is going to cooperate with other regulators, both domestic and international, in regard with new technologies. Apart from that, next year FinHub will conduct FinTech Forum oriented on DLT and digital assets precisely.

Acording to the agency, a SEC senior adviser for digital assets and innovation Valerie Szczepanik will run FinHub which will also be staffed with other SEC employees, having previously worked on issues related to fintech industry.

“Creating FinHub we hope to give a clear path for entrepreneurs, developers and their advisers to engage with SEC employees,” Szczepanik claimed.

The SEC chairman Jay Clayton marked that the agency reaches to work with investors and other market participants on such issues as capital formation and financial services as well as investors protection.

“FinHub will become our tool for monitoring and participating in innovation on securities markets which need quick reaction to any problem,” he said.

Other important news from the Cryptocurrency world and Blockchain

We wrote earlier that Bittrex has opened an international division for its business activity outside the U.S.

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Victoria Savchuk