The launch of FinHub shows that the US Securities Exchange Commission (SEC) is increasingly focusing on 4th Industrial Revolution technologies. Among these technologies, Bitcoin and artificial intelligence (AI) continues to enjoy prominence.
On October 18, 2018, the SEC launched the Strategic Hub for Innovation and Financial Technology (FinHub) to channel all issues related to financial technology (FINTECH) and blockchain technology, including Bitcoin and other cryptocurrencies. Moreover, FinHub centers on automated investment advice, digital marketplace financing, AI, and machine learning.
Through FinHub’s forum, one can interact with SEC staff and request a meeting to discuss digital assets, digital assets platforms, digital marketplace platforms, AI, machine learning, and many other crypto-related subjects.
In the section dedicated to blockchain/distribution ledger, FinHub offers information concerning regulation, registration, and other related matters.
Additionally, FinHub provides updates regarding cyber enforcement actions that are being carried out against illegal digital assets and initial coin offerings (ICOs).
FinHub is also a resource for relevant material regarding automated investment advice, including guidance updates, investors’ bulletins on robo-advisers, and investors’ alerts on automated investment tools.
Regarding Bitcoin and other digital assets, SEC Chairman Jay Clayton is mindful that the crypto market has surged rapidly while becoming popular and attracting significant amounts of capital from retail investors. Clayton suggests that if market participants do not follow the laws, all investors are exposed to risks.
From a financial regulatory perspective, these developments may enable us to better monitor transactions, holdings and obligations (including credit exposures) and other activities and characteristics of our markets, thereby facilitating our regulatory mission, including, importantly, investor protection.
Said simply, we should embrace the pursuit of technological advancement, as well as new and innovative techniques for capital raising, but not at the expense of the principles undermining our well-founded and proven approach to protecting investors and markets.
In this connection, FinHub seems likely to facilitate the SEC’s embrace of the pursuit of digital technology advancement. Especially so as FinHub allows innovators, developers, and entrepreneurs to interact with the SEC. In effect, crypto enthusiasts can use FinHub as a forum for engaging with SEC staff, here.
How do you think FinHub will impact the crypto market? Will you reach out to the SEC? Let us know in the comments below!
Images courtesy of Shutterstock, Twitter @(SEC_News).
The post The SEC Wants to Engage the Crypto Community through FinHub appeared first on Bitcoinist.com.
Previous articleIs Ripple finally going to make waves globally?