SEC Sets Up Open Line of Communication for Fintech Projects With FinHub

SEC Sets Up Open Line of Communication for Fintech Projects With FinHub
The U.S. Securities and Exchange Commission (SEC) has launched a new office to engage with cryptocurrency and blockchain startups. Called the Strategic Hub for Innovation and Financial Technology (FinHub), the division will make it easier for fintech startups to interact with the regulator on related issues and the legal implications of products before they launch them.Announced Thursday, October 18, 2018, FinHub will serve as the central point for entrepreneurs in the fintech world, especially groups focusing on new technologies such as blockchains, artificial intelligence, digital marketplace financing and more.With the number of subpoenas being sent out by the agency and the expansion of its clampdown on blockchain startups that it claims have violated federal securities law, the FinHub can direct entrepreneurs and provide the much-needed clarity on the requirements needed to build compliant platforms and products.Entrepreneurs and developers will be able to ask questions from the Hub as well as have access to the regulator's views and actions about the fintech space. Startups can also use the portal to request for meetings with the regulator.The Hub will be led by Valerie A. Szczepanik, the Senior Advisor for Digital Asset and Innovation in the SEC's Division of Corporation Finance, and will be staffed with agency officials with expertise in fintech related issues.Szczepanik said the SEC has been ed... For Further Information Click on Below Button
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