The U.S. Securities and Exchange Commission’s (SEC) fintech hub is getting an upgrade.
Strategic Hub for Innovation and Financial Technology, or FinHub for short, will become a stand-alone office with Senior Advisor for Digital Assets Valerie A. Szczepanik continuing at the helm. Szczepanik will now report directly to the SEC commissioner under a reorganization announced Thursday.
FinHub has played prominently in the SEC’s crypto strategy since its 2018 formation. Now a permanent fixture of the regulator’s hierarchy, FinHub is poised to take on an even more expansive role. SEC said the shift “strengthens” its ability to adapt to ever-changing financial markets.
“Our action to establish FinHub as standalone office furthers our commitment to facilitate the introduction of new technologies for the benefit of investors and the efficiency and resiliency of our markets,” said Commissioner Jay Clayton in a press statement.