About the Office
The Strategic Hub for Innovation and Financial Technology (FinHub) coordinates the agency’s oversight and response regarding emerging technologies in financial, regulatory, and supervisory systems, including in the areas of distributed ledger technology (for example, crypto assets/digital assets), automated investment advice, digital marketplace financing, and artificial intelligence/machine learning. Through internal and external engagement, FinHub helps shape the SEC’s approach to technological advancements in the financial industry.
FinHub is comprised of “delegates” from Divisions and Offices across the agency, who serve as internal and external subject matter experts for financial technology (FinTech) matters. FinHub utilizes and augments existing institutional expertise concerning leading-edge technologies and innovation, which foreshadow the future direction of the financial industry.
Programs and Services
- FinHub serves as a public resource for information about the SEC’s views and actions related to FinTech innovation. The public can request meetings and other assistance from FinHub relating to FinTech issues arising under the federal securities laws.
- FinHub serves as an internal resource within the SEC, engaging with staff and coordinating work on issues related to financial innovation.
- FinHub works with a wide range of market participants and serves as the SEC’s FinTech liaison to policymakers and regulators, both foreign and domestic.
Blockchain/Distributed Ledger
In recent years, the SEC has encountered a number of issues relating to distributed ledger technology and blockchains. The term distributed ledger refers to databases that maintain information across a network of computers in a decentralized or distributed manner. These networks commonly use cryptographic protocols to ensure data integrity and consensus mechanisms to ensure data congruity. Blockchains are one type of distributed ledger, and they are often used to issue and transfer ownership of crypto assets/digital assets that may be securities, depending on the facts and circumstances. To learn more about the SEC’s activities in this evolving space below.
Regulation, Registration, and Related Matters
- IOSCO Decentralized Finance Report
- Valkyrie XBTO Bitcoin Futures
- Teucrium Bitcoin Futures Fund Order
- VanEck Bitcoin Trust Order
- Boston Security Token Exchange LLC Order
- Winklevoss Bitcoin Trust Order
- Statement for ‘Investment Contract’ Analysis of Digital Assets
- Framework for 'Investment Contract' Analysis of Digital Assets
- No-Action Letters
- Exemptive Orders
- Statement on Digital Asset Securities Issuance and Trading
- Former Chairman Jay Clayton's Testimony on Virtual Currencies: The Role of the SEC and CFTC
- Former Director, Hinman speech on digital asset transactions
- Statement on Potentially Unlawful Online Platforms for Trading Digital Assets
- Remarks before the AICPA National Conference on Banks & Saving Institutions
- Joint Staff Statement on Broker-Dealer Custody of Digital Asset Securities
- Joint Statement of CFTC/FinCEN/SEC Leaders on Activities Involving Digital Assets
- Letter to NYDFS on Proposed Coin Listing Policy Framework
- FinHub Statement on OCC Interpretation related to stablecoin reserves
- Staff Statement on WY Division of Banking's "NAL Custody of Digital Assets and Qualified Custodian Status"
- President's Working Group on Financial Markets Statement Re Stablecoins
- Custody of Digital Asset Securities by Broker-Dealers
- Division of Examinations Digital Asset Risk Alert
- Division of Examinations Announces 2023 Priorities
- Staff Statement on Funds Registered Under the Investment Company Act Investing in the Bitcoin Futures Market
- President’s Working Group on Financial Markets Report on Stablecoins
- Staff Accounting Bulletin No. 121
- Crypto Assset/Digital Asset Related Enforcement Actions
Initial Coin Offerings
Key International Reports
Opportunities for Public Input
- Staff Letter and Responses: Fund Innovation and Crypto Holdings
- Transfer Agent Concept Release (blockchain applications)
- Non-DVP and Custody of Digital Assets Letter
- Staff Statement on WY Division of Banking's "NAL Custody of Digital Assets and Qualified Custodian Status"
- Invitation to comment on the Custody of Digital Asset Securities by Broker-Dealers
- BOX Exchange LLC Rulemaking
- NYSE Arca Rulemaking
Digital Marketplace Financing
Digital marketplace financing generally refers to financing methods that do not use traditional financial institutions as intermediaries. The financing can be in the form of loans, often called online marketplace lending, or equity or equity-like securities, often called crowdfunding. The SEC has been addressing digital marketplace financing activities related to funding portals, platforms, and investments for some time. To learn more about the SEC’s activities in this space, click below.
Regulation
Investor Focus
Empirical information
Automated Investment Advice
Automated investment advisers/Robo-advisers are investment advisers that typically provide asset management services through online algorithmic-based programs. Since their introduction, the SEC has been involved with regulating these market participants. To learn more about the SEC’s activities in this space, click below.
Investor Information
Regulation and Related Matters
Artificial Intelligence/Machine Learning
Machine learning and artificial intelligence refers to methods of using computers to mine and analyze large data sets. This area of technological innovation is moving rapidly and the extent of related SEC activity is expanding. To learn more about the SEC’s activities in this space, click below.
Speeches and Presentations
Opportunities for Public Input
Valerie A. Szczepanik
Director, Strategic Hub for Innovation and Financial Technology
Contact FinHub
202.551.FHUB (3482)
Engage with FinHub
Request Form for FinTech-Related Meetings and Other Assistance
Modified: Nov. 7, 2023