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US HB3690
Bill
Status
6/3/2025
Primary Sponsor
Frank Lucas
Click for details
AI Summary
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Requires the SEC to establish the Strategic Hub for Innovation and Financial Technology (FinHub) within 180 days to support engagement on emerging financial technologies and serve as a resource for the Commission
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Codifies LabCFTC within the Commodity Futures Trading Commission to promote responsible financial technology innovation, provide outreach to fintech innovators, and advise the CFTC on technology-related rulemakings
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LabCFTC must have a Director appointed by the Commission who reports directly to the Commission and performs prescribed functions
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Mandates annual reporting: FinHub must submit engagement summaries to the SEC by October 31 each year (starting after 2025), while LabCFTC must submit activity reports to the House and Senate Agriculture Committees
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Requires the CFTC to maintain records tracking public engagements through LabCFTC and protect confidential or proprietary information received through those engagements
Legislative Description
Securing Innovation in Financial Regulation Act
Finance and financial sector
Last Action
Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
6/3/2025