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Formalizing Financial Innovation Hubs: SEC and CFTC Technology Offices.

This law formally establishes permanent innovation offices (FinHub at the SEC and LabCFTC at the CFTC) to help regulators understand and oversee new financial technologies. The goal is to promote responsible innovation, such as FinTech, while ensuring markets remain safe and competitive. Citizens can expect new financial products to be introduced to the market in a more regulated and secure manner.
Key points
Formal establishment of FinHub (SEC) and LabCFTC (CFTC) offices to manage financial technology innovation.
These offices will advise regulators on new rules concerning financial technology (FinTech) to ensure market safety.
Facilitating technological firms' ability to obtain information and feedback from regulators on potential legal issues.
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Expired
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Additional Information
Print number: 118_HR_9633
Sponsor: Rep. Lucas, Frank D. [R-OK-3]
Process start date: 2024-09-17
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Securing Innovation in Financial Regulation Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_9633.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-09-17.

What are the main provisions?

Key points include:

  • Formal establishment of FinHub (SEC) and LabCFTC (CFTC) offices to manage financial technology innovation.
  • These offices will advise regulators on new rules concerning financial technology (FinTech) to ensure market safety.
  • Facilitating technological firms' ability to obtain information and feedback from regulators on potential legal issues.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Lucas, Frank D. [R-OK-3].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy Informatization