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SEC Launches Fintech Hub To Engage With Cryptocurrency Startups And More
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SEC Launches Fintech Hub To Engage With Cryptocurrency Startups And More

The U.S. Securities and Exchange Commission is launching a portal for engaging with companies using blockchain, artificial intelligence and more.

Available today, the new fintech hub, or FinHub for short, is designed to bring the SEC’s existing services to a single access point and provide an easier way for companies to communicate with the public.

As startups building with blockchain increasingly come under the SEC’s attention, the new portal has the potential to streamline the process of building compliant platforms prior to launch.

The SEC’s FinHub will be led by Valerie A. Szczepanik, senior advisor for digital assets and innovation and associate director in the SEC’s Division of Corporation Finance.

“We’ve been doing these things for years,” Szczepanik told Forbes. “This is going to bring it all together.”

The FinHub will be staffed by representatives from the SEC’s divisions and offices who have expertise and involvement in fintech-related issues.

In addition to asking questions of the SEC, those who use the site will be able to request meetings. To increase engagement, a binary code “Easter egg” message has been hidden on the page.

Over the past year the number of cases being publicly pursued by the SEC has increased. As a result the U.S securities regulator earlier this year published a webpage that spoofed scam websites as a way to educate potential investors and blockchain builders. The new portal appears to be an extension of that strategy.

In addition to serving entrepreneurs building with blockchain, the platform is designed to engage with those using artificial intelligence and other rapidly developing technologies.

“We’ve found it incredibly helpful to hear from folks, especially in fast-moving areas like DLT,” said Szczepanik.

The SEC also announced today that it will hold its second fintech forum—dedicated to blockchain and other forms of distributed ledger technology—in 2019.

In a statement provided to Forbes, SEC chairman Jay Clayton described the FinHub as “a central point of focus for our efforts to monitor and engage on innovations in the securities markets that hold promise, but which also require a flexible, prompt regulatory response.”

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