Bill > HR3690

This bill aims to codify and formalize two existing technology-focused offices within key financial regulatory agencies: the Strategic Hub for Innovation and Financial Technology (FinHub) at the Securities and Exchange Commission (SEC) and LabCFTC at the Commodity Futures Trading Commission (CFTC). For the SEC's FinHub, the bill establishes a committee that will serve as a resource for understanding emerging financial technologies, engage with market participants, and facilitate communication between the SEC and financial technology businesses. The committee will be composed of members from various SEC divisions and will provide an annual non-confidential summary of its activities to Congress. For the CFTC's LabCFTC, the bill codifies the office's purpose as promoting responsible financial technology innovation, serving as an information platform about new technologies, and providing outreach to technology innovators. LabCFTC will have a Director appointed by the Commission and will be responsible for advising the CFTC on financial technology matters, providing internal education, engaging with academia and professionals, and submitting an annual report to Congressional agriculture committees detailing its activities and interactions. Both offices are designed to help regulatory agencies better understand and adapt to rapid technological changes in the financial sector, ensuring fair competition and responsible innovation while maintaining regulatory oversight.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/3690/all-info