LONDON—Four U.S. regulators have joined the Global Financial Innovation Network, an international alliance of government regulators led by the U.K.’s Financial Conduct Authority seeking to bolster the future of fintech.
The Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) have all signed onto the GFIN, an SEC spokesman told CoinDesk.
Their participation in the network – established in August 2018 – brings federal regulators into GFIN’s mission of developing a “global sandbox” for financial innovations, CoinDesk said.
“By promoting knowledge-sharing on innovation in financial services, U.S. members of GFIN will seek to advance financial and market integrity, consumer and investor protection, financial inclusion, competition, and financial stability,” the regulators stated in a joint release.