SEC Launches Fintech Hub for Crypto Startups

Karan Balwani

October 19, 2018 2:53 pm

Cryptocurrency News

SEC Launches Fintech Hub for Crypto Startups
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The Securities and Exchange Commission (SEC) of the United States has announced its plans for a fintech hub. This portal will allow the governing body to interact with companies who are engaged with blockchain, artificial intelligence and more.

The portal launched on October 18, 2018, and is called FinHub. It is intended to bring the existing service that the SEC provides via a single point of contact. It will facilitate these companies easier communication with the official government body.

SEC has been closely observing the startups that are utilizing blockchain technology. The FinHub portal is working towards streamlining the process of building compliant platforms before they are launched.

Valerie A. Szczepanik will be leading the FinHub. Notably, Szczepanik is the senior advisor for digital assets and innovation. She also serves as the associate director in SEC’s Corporation Finance Division.

“We’ve been doing these things for years. This is going to bring it all together.” – Szczepanik said in an interview with Forbes. Representatives from SEC’s division will be staffed at this hub. These people have been experts in the fintech domain.

Companies will be able to get their queries answered and request meetings as well. To increase user engagement, an “Easter egg” message has been hidden on the page as well.

SEC has been quick to take charge of cases relating to ICO scams. They also published a spoof webpage earlier this year to educate blockchain developers and potential investors on scams. This new hub intends to expand on this strategy.

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