US Securities and Exchange Commission (SEC) has launched a strategic hub for innovations and financial technologies (FinHub).
FinHub will work under the command of Valerie Szczepanik, SEC Senior Advisor for Digital Assets and Innovation and Financial Department Director.
Hub’s main goal will be deep research of decentralized registries and crypto assets, as well as establishing cryptocurrency and blockchain regulation connections between regulators and cryptocurrency companies and developers. It is reported that FinHub will also take over some duties of the existing work groups in SEC developing ways of crypto industry regulation.
FinHub will create a portal for cybercommunity for the immediate discussions and interactions of digital technologies market participants with SEC employees, publication of actual information about SEC operations and create links between regulating organs all around the globe. Hub will also host a forum dedicated to DLT and digital assets in 2019.
“SEC strives for collabroation with investors and participants of the digital asset market, which will be headed towards industry development and by no means its a limitation”,
said Valerie Szczepanik.
Recently senior accountant of SEC has announced that companies have to obey bookkeeping rules while working with crypto assets, which means adding them to an account. A month earlier Head Accountant of SEC had also warned companies holding ICOs to remember about their obligation for financial reporting.
In September, SEC commission temporarily stopped trading of exchange-traded note (ETN) – Bitcoin Tracker One.