The chairman of the U.S. SEC, Paul Atkins, stated in his speech today: "In order to keep pace with the theme of innovation and the progress of the encryption working group, we have requested Congress to reauthorize the integration of the functions of the agency's Innovation and Financial Technology Strategic Center (FinHub) into other departments of the agency. FinHub was established in 2018, during a critical period of emerging technology development. The rapid advancement of Distributed Ledger technology (including digital assets, artificial intelligence, and machine learning) requires the U.S. SEC to focus on deepening its understanding. Unfortunately, the FinHub is viewed by many as a law enforcement tool rather than a tool for promoting innovation. Moreover, given its current composition, the FinHub is too small in scale to operate effectively and improve efficiency, and the expertise of its staff could be better utilized in other departments of the agency.