Categories: News

SEC’s fintech wing leaves the nest, becoming stand-alone office

FinHub will have new independence and responsibilities, reporting directly to the SEC’s chairman.

Per a Dec. 3 announcement, the Securities and Exchange Commission’s fintech team will become an independent office.

Initially launched in 2018 under the guidance of Bill Hinman, the SEC’s Strategic Hub for Innovation and Financial Technology, or FinHub, has been a leading force in securities regulation as it applies to new technologies since its inception.

Given that the same timeframe has seen a major ramping up of the SEC’s pursuit of initial coin offerings it deemed to have been unregistered security sales, FinHub has been busy.

The shift to an independent office means that rather than reporting to the Division of Corporate Finance, FinHub leader Valerie Szczepanik will now report directly to the SEC’s chairman, which remains Jay Clayton for the next month. Of the announcement, Clayton said:

“Our action to establish FinHub as standalone office furthers our commitment to facilitate the introduction of new technologies for the benefit of investors and the efficiency and resiliency of our markets.”

The SEC’s analog in the commodities markets, the Commodity Futures Trading Commission, made a similar move last year in making its LabCFTC an independent office

[…]
Learn more

crypto

Leave a Comment

Recent Posts

Mt. Gox Bitcoin Movements: Market Impact and Ex-Client Risks

The defunct cryptocurrency exchange Mt. Gox is making waves again, this time with huge Bitcoin…

5 months ago

Taproot Assets: Revolutionizing Bitcoin’s Lightning Network

Lightning Labs, a leading developer in Bitcoin's Lightning Network ecosystem, has launched a groundbreaking protocol…

5 months ago

Whale With Ethereum Foundation Link Transfers 92,500 ETH Worth $288M 

According to onchain data, a significant whale holding over 92,500 ether moved the funds to…

5 months ago

Discover the Skinny Bob MemeCoin: NFTs, Multi-Chain, and Cosmic Humor

🛸Inspired by the internet's favorite extraterrestrial, Skinny Bob MemeCoin is revolutionizing the cryptosphere across multiple…

5 months ago

Uncovering the Risks of NFTs for Creators and Buyers

NFTs, or non-fungible tokens, are transforming various industries, including art, music, sports, and real estate.…

5 months ago

Proton Technologies AG Unveils Open Source Bitcoin Wallet

Proton Technologies AG, the Swiss company renowned for its encrypted email and VPN services, has…

5 months ago