The Commission on securities and exchange Commission (SEC) of USA has established a new division for legal advice and financial technology startups, including those that hold ICO.
On the establishment of a Department called FinHub SEC announced last Thursday. FinHub will be the main representative organ of the Commission to support enterprises and developers in the field of financial technologies. Attention will be given to those who work with technologies of distributed registry (DLT), digital marketplaces, and artificial intelligence.
Tasks FinHub will be the lighting of the legal information from the SEC, advising the young creators projects and explanation of the rules of their activities. The Department will share information and experience with other regulatory bodies. FinHub has already scheduled a forum on DLT and digital assets in the coming year.
The new division was headed by a senior adviser to the Commission digital assets and innovation Sepanik Valerie (Valerie Szczepanik). Part FinHub included all the staff of the SEC, which are somehow studied the financial technology sector.
“The staff of the SEC for some time trying to explore emerging technologies, explain the Agency’s position on these issues and promote innovation in the securities industry,” commented Sepanik.
The Agency hopes that the launch FinHub will help businesses and developers to more easily make contact with the staff of the SEC, to obtain their recommendations and to test their ideas on compliance with legal requirements. As said the Chairman of the Commission, Jay Clayton (Jay Clayton), in the priorities of agencies working with members of the financial technology market in the field of capital formation, the provision of financial services and investor protection.
Recall that the SEC has recently attracted special interest of the crypto community in connection with the pending decision of the office for the registration of a bitcoin ETF. A little over a week ago, the media came to the conclusion that very soon the Commission will take a decision as submitted by various companies applications. The Agency for a long time it took, I refused the applications and, in General, showed an ambiguous attitude to this type of exchange-traded funds. It is believed that the launch of a bitcoin ETF will allow institutional investors easier to enter into the cryptocurrency market.