Paul Atkins: Consider integrating FinHub capabilities into other departments to deepen understanding of new technology expertise
2025-05-19 14:06:59
In a speech today, SEC Chairperson Paul Atkins said: "In keeping with the innovation theme and the progress of the Crypto Task Force, we have asked Congress for re-planning approval to integrate the functions of the agency's Strategic Center for Innovation and Financial Technology (FinHub) into the rest of the agency. FinHub was established in 2018 at a critical time in the development of emerging technologies. The rapid development of distributed ledger technologies (including digital assets, artificial intelligence, and machine learning) requires the SEC to focus on deepening understanding. Regrettably, financial hubs are seen by many as a tool for law enforcement rather than for fostering innovation. In addition, as currently constituted, financial hubs are too small to operate effectively and increase efficiency, and staff expertise can be better utilized in other parts of the organization.
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