Published on July 10th, 2018 | by bitcoin0
Brokerage firm asked to disclose crypto activity by US Financial Authority
The Financial Industry Regulatory Authority has issued a notice encouraging every firm that sells securities to the public in the U.S. to disclose any activities “related to digital assets, such as cryptocurrencies and other virtual coins and tokens.”
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The Financial Industry Regulatory Authority (FINRA) issued a Regulatory Notice last week on digital assets.
According to its website, FINRA had 629,112 registered representatives and 3,712 member firms in April.
It advised them to “be cautious when considering the purchase of shares of companies that tout the potential of high returns associated with cryptocurrency-related activities without the business fundamentals and transparent financial reporting to back up such claims.”
What do you think of FINRA asking brokerage firms to declare crypto activities?
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