In an announcement today, the Securities and Exchange Commission said it will host a public forum to discuss Fintech innovation at its Washington D.C. headquarters ...
In an announcement today, the Securities and Exchange Commission said it will host a public forum to discuss Fintech innovation at its Washington D.C. headquarters in November.
The Securities and Exchange Commission (SEC), the federal body which serves as the regulator for all of the United States’ stock exchanges and electronic securities markets, has given the inevitable nod to financial technology.
On November 14, the federal agency will host a public forum to discuss Fintech innovation in the financial services industry.
The public forum will be geared towards a collaborative effort among regulators, entrepreneurs and industry experts. Significantly, the gathering will also see the current regulatory environment evaluated, hinting toward a unified approach to ensure innovation isn’t stifled.
The press release highlighted blockchain among the chief Fintech drivers of change. An excerpt read:
The proliferation of Fintech innovation has the potential to transform virtually every aspect of our nation’s financial markets. The panels will discuss issues such as blockchain technology, automated investment advice or robo-advisors, online marketplace lending and crowdfunding, and how they may impact investors.
The announcement comes within a day of the formation of a new congressional group, the Congressional Blockchain Caucus, which will focus on promoting sound public policies toward cryptocurrencies like bitcoin and other blockchain-based technologies.
Last month, Arthur Levitt Jr., former chairman of the SEC, argued in a column against the naysayers and skeptics of the biggest blockchain innovation of them all, bitcoin. Levitt sees bitcoin transcending borders to parts of the world which aren’t served by banking institutions, underlining the cryptocurrency’s potential to firmly disrupt the payments industry.
Levitt, who was also the longest serving chairman of the SEC, has shown his endorsement to bitcoin in the past, while notably stating:
Bitcoin is a fascinating new product in the rapidly changing world of financial service.
The SEC’s public Fintech forum will be held at its headquarters in Washington D.C. on Nov. 14. The event will be open to the public, with a live webcast covering proceedings on the SEC’s website. Further details are expected to be published in the coming weeks.
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