Paul Atkins: Consider integrating FinHub functionality into other departments to deepen understanding of new technology expertise

Planet Daily News: SEC Chairman Paul Atkins stated in his speech today: "To align with the progress of the innovation theme and crypto working group, we have requested congressional reapproval to integrate the functions of the agency's Innovation and Financial Technology Strategy Center (FinHub) into other departments of the agency. FinHub was established in 2018, during a critical period of emerging technology development. The rapid development of distributed ledger technology (including digital assets, artificial intelligence, and machine learning) requires the SEC to focus on deepening understanding. Unfortunately, the Financial Hub is viewed by many as an enforcement tool rather than a tool for promoting innovation. Moreover, given its current composition, the Financial Hub is too small to operate effectively and improve efficiency, and the staff's expertise can be better utilized in other departments of the agency."