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SEC Makes FinHub a Stand-Alone Office
The reorganization strengthens FinHub's ability to address the digital assets space.
By Danny Nelson
Updated Sep 14, 2021, 10:38 a.m. Published Dec 3, 2020, 8:47 p.m. 1 min read
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.
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What to know:
- A large trader booked a "short strangle" strategy on Deribit, expecting XRP to stay close to $1.40 till the end of June.
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