SEC FinHub to Enhance Crypto and Blockchain Engagement Will Have Major Impact for Future
SEC Aims to Engage Crypto Enthusiasts Via Its Latest ‘Finhub’ Initiative.
Just over a week back, the US Securities and Exchange Commission (SEC) launched its latest effort to connect with the global Bitcoin community. The project is called the Strategic Hub for Innovation and Financial Technology (FinHub) and is designed primarily to propagate education and awareness to the masses regarding all things crypto/blockchain. Not only that, FinHub will also serve to deliver interested customers with automated investment advice, as well as act as a digital marketplace for all of one’s financing, AI, and machine learning needs.
What Does Finhub Hope to Achieve?
One of the primary objectives of FinHub is to connect customers with various staff members affiliated with the SEC (so that they can talk about a wide array of topics related to crypto and its associated technologies). The discussions can range across a plethora of topics, including niche’ subjects such as
- Digital assets
- Digital assets platforms
- AI- Artificial Intelligence
- Machine learning
If that wasn't enough, FinHub will also work towards providing real-time updates pertaining to ‘cyber enforcement actions’ that are being facilitated against illegal digital assets and initial coin offerings (ICOs) all across the USA.
Jay Clayton Remains Optimistic About the Future of Crypto
In wake of the aforementioned development, the Chairman of the SEC, Jay Clayton, said that he is aware of the rapid surge being experienced by the alt-asset sector at the moment. However, owing to the many loopholes that exist within today’s digital currency market, he wants people to follow the required laws so that investors are not exposed to any unwarranted economic risks .
From a purely regulatory standpoint, Clayton mentioned that the introduction of better rules and regulations would lead to the creation of a system that will help customers better monitor their transactions, holdings and obligations (including credit exposures).
Clayton then went on to say:
“ 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.”
This latest undertaking of the SEC will most likely help spur investor confidence within this nascent financial domain. It now remains to be seen how well this venture is received by the public at large.