The latest reports reveal that the United States Commodity Futures Trading Commission’s fintech lab is planning to host office hours during the New York Fintech Week. The CFTC’s fintech research unit, LabCFTC, is scheduled to host the office hours at this event, which will take place in April 2020.
This strategy aims to engage with innovators, as explained in a recently published announcement. LabCFTC’s agenda is to sponsor market-enhancing fintech innovation and competition. Moreover, it will provide the CFTC with a better understanding of the emerging technologies.
The office hours will also let interested parties participate in different dedicated discussions and give a detailed presentation to the regulators.
LabCFTC Supports Fintech
The LabCFTC was established in 2017 with this department reporting directly to the authority’s chairman Heath Tarbert. He then said:
“Blockchain, digital assets, and other developments hold great promise for our economy. Now is the time for LabCFTC to play an even greater role; as we work to develop and write the rules for these transformative new products. That reality requires engagement at the highest levels within the CFTC; which is why I am elevating LabCFTC to be an independent operating office of the agency and a direct report to me.”
The CFTC awarded LabCFTC status as an independent operating office in October 2019. As the fintech industry continues to grow and mature, most of the primary industry players are striving to contribute to its development. In that connection, Bitcoin SV (BSV) blockchain developer, together with blockchain organization service Open Directory creator synfonaut, unveiled an office hours consulting service last August.
This service connects experienced Bitcoin SV developers with developers in need of assistance on Bitcoin SV projects. Also, in 2019, ConsenSys released a new Blockchain and DApp Developer Job Kit. This kit is designed to assist the aspiring Ethereum blockchain developers in gaining entry into the market.