The growth of financial services technology (FinTech) presents tremendous opportunities for the industry. However, the growth of FinTech also poses substantial challenges to regulators including the U.S. Securities and Exchange Commission (SEC). While the SEC has provided some guidance on the regulation of FinTech through enforcement actions, conferences, and alerts, the SEC has not published a concept release or proposed rules on the subject. As the SEC considers how to properly regulate FinTech, I encourage the Commissioners to publish a concept release on when digital assets are securities and when the firm's that facilitate the sale and trading of digital assets must register as a broker-dealer, an alternative trading system (ATS), or an exchange. The concept release should also ask whether the SEC should adopt an approach to the regulation of digital assets used in the United Kingdom and Singapore - a regulatory sandbox.