SEC to Discuss Blockchain at Public Forum
The Securities and Exchange Commission (SEC) announced it will hold a forum in Washington to discuss blockchain and other FinTech innovations.
The SEC welcomes the public to join regulators and industry experts as they analyze the possible policies for technologies. The forum will review the impact virtual currencies will have on the financial market. The panel is also said to discuss online market lending and crowdfunding.
This is a positive turnaround for the SEC as they’ve kept a watchful eye on Ethereum and other blockchains. Just after the DAO hack in June, deputy directors of the SEC’s Division of Trading and Markets, Gary Goldsholle, stated this issue addresses the SEC’s concerns about blockchains.
“This highlights a number of concerns that are really core to the SEC’s role, which is not only issues of disclosure, investor protection,” Goldsholle says.
The SEC has struggled in the past on how blockchain technologies should be regulated.
“One key regulatory issue is whether blockchain applications require registration under existing Commission regulatory regimes, such as those for transfer agents or clearing agencies. We are actively exploring these issues and their implications,” Chairwoman Mary Jo White explained back in March.
By discussing blockchain with the panel and public, the SEC will hopefully gain the insight needed going forward.
The event will be held at SEC’s Washington D.C. headquarters on November 14. Everyone is welcomed to attend the event. The SEC will have a live webcast on their site for those who cannot make it. Updates will be added regarding the agenda and panel soon.