News | 07.09.19
Crypto Broker Logjam Possibly Cleared by Regulatory Guidance
The SEC and FINRA have cleared the way for dozens of firms to become registered cryptocurrency brokers by issuing guidance on how securities rules apply to some of the compliance issues posed by digital tokens. Crypto brokers that store customer holdings need to keep them separate from firm assets, maintain accurate books and records and, in certain cases, use a third-party custodian, according to a joint statement issued by the regulators. The SEC and FINRA added that they've been holding a series of discussions with market participants on how custody rules might apply to cryptocurrencies.
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