The Fintech department of SEC has called on other Fintech leaders to meet and discuss vital issues such as the regulation of blockchain activities in the country.
As a result of the COVID-19 stay-at-home orders, FinHub, which belongs to the U.S. Securities and Exchange Commission will now be meeting online with industry leaders.
SEC made it known this way:
“To facilitate ongoing communications, FinHub will host a series of thematically-based virtual P2P meet-ups over the next few months.”
“During each series, FinHub staff will meet virtually with innovators, entrepreneurs, or firms that wish to discuss issues related to that series’ theme.”
FinHub was created towards the end of 2018 when technologies started to flourish. The major aim of setting it up was to establish guidelines to harmonize the activities of the technology industry. It connected industries to the government and showed them the way so that they do not go against the government’s decisions.
FinHub has constantly held meetings with its members and in such meetings, key issues were often addressed. Unfortunately, the COVID-19 lockdown has made it less frequent this year but a solution is already on the way.
Virtual meeting is the solution
The virtual meeting won’t be less important than the physical ones as they will be taking the same form and important questions will be answered. The theme for the first online meeting is tagged “regulatory technology (RegTech).
The theme was chosen by the commission because:
“Financial services firms are increasingly turning to technological innovation to strengthen and add efficiencies to their regulatory compliance programs.”
At the moment, FinHub is yet to give detailed information about the times and dates of the meetings.