On October 18, Thursday, the US Securities and Exchange Commission announced a new division that would provide legal assistance to financial companies, that particularly hold ICO.
According to the news reports, FinHub, the strategic centre of innovative and financial technologies, is said to be the midpoint for the cooperation of the SEC and fintech companies/developers (distributed ledger sector and AI).
As the SEC noted, the SEC's senior advisor for digital assets and innovation, Valerie Szczepanik, is said to take the chair of the new division along with the managing board of SEC experts that used to deal with fintech sector. It is reported that FinHub is likely to post all SEC reports as well as provide companies with the form to send questions and ask for business advice regarding regulations. Moreover, the new body may cooperate with other authorities both US-based and overseas.
"SEC staff across the agency have been engaged for some time in efforts to understand emerging technologies, communicate the agency's stance on new issues, and facilitate beneficial innovations in the securities industry," said SEC spokesperson.
Next year, FinHub is also expected to hold FinTech Forum that is aimed to gather market players and fintech experts to discuss blockchain and crypto issues.
"By launching FinHub, we hope to provide a clear path for entrepreneurs, developers and their advisers to engage with SEC staff, seek input and test ideas," commented SEC.