Recently, the SEC launched a new project targeted at new entrants into the blockchain and crypto industry called, FinHub. The agency, in its effort to provide adequate information pertaining to the digital currency and ICO markets, has made available an online form which can be used by potential crypto investors to get all the information they need. The online form is also aimed at helping new companies and startups have access to the right information which will, in turn, keep them in-line with the SEC’s guidelines.
FinHub is Responsible for the Form
The SEC strategic hub for innovation and financial technology, FinHub has been identified as the entity responsible for the development of the form.
Previously, a website was developed by the SEC called HoweyCoins. It is an educative project that impersonates a coin offering to instruct investors about enquiries to make before they invest in what might end up being a fraudulent ICO.
Visitors to the website who end up clicking on the “Buy Coins Now” button will be led to an educative platform with tools and tips from the SEC and other financial regulators, instead of being sent to an actual ICO page.
HoweyCoins possess many of the characteristics that are exhibited by fraudulent ICOs. These include: promises of guaranteed returns, the countdown clock showing the total time left to buy into the ICO, and a white paper with a complex yet vague explanation of the project goals and applicability.
How to Use the Form
Investors who are interested in getting one information or the other are allowed to submit only one request and they will need to wait for an answer. Investors are allowed to ask any questions regarding financial technology, ICO’s and cryptocurrencies’ included.
Also, top SEC researchers are ready to meet with any investor seeking advice from them in person.