FINRA asks members to disclose crypto activity

July 11, 2018
Chris Wheal

A US financial derivatives regulator has published a notice to encourage its members to notify it if they engage in or plan to enter into cryptocurrency-related activities.

 

FINRA’s New York headquarters: self-regulatory body asks members to disclose crypto activity

The Financial Industry Regulatory Authority (FINRA) a non-governmental, self-regulatory body that is subordinate to the Securities and Exchange Commission, said firms should keep their “regulatory co-ordinator” updated about crypto-related activities until 31 July 2019.

Such activities, it said, included mining, transactions and holding cryptocurrencies.

“FINRA is monitoring developments in the digital asset marketplace and is undertaking efforts to ascertain the extent of FINRA member involvement related to digital assets,” the notice said.

The organisation did not say, however, how it intended to use the information gathered.

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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