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 stand-alone 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.