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Crypto Compliance

All articles tagged with #crypto compliance

policy2 years ago•3 min saved

Crypto Compliance and Lawsuits: A Rough Week for Binance and Coinbase

SEC Chair Gary Gensler outlined multiple paths for crypto projects to register with the agency and comply with securities law, while criticizing Binance and pushing back on arguments made by Coinbase. Gensler noted that Binance executives knowingly broke the law and redirected billions in customer assets to investment vehicles owned by CEO Changpeng ‘CZ’ Zhao. He also pointed out that Coinbase made a calculated economic decision to take the risk of enforcement as the cost of doing business.

via The Block - Crypto News|

#binance #coinbase #crypto-compliance

cryptocurrency2 years ago•4 min saved

Firms Discover SEC-Compliant Route for Crypto Registration

The Financial Industry Regulatory Authority (FINRA), an industry-funded oversight arm created by the SEC, has approved its first broker-dealer with custody rights for digital assets securities, Prometheum Ember Capital LLC. Prometheum Capital, the parent company, was purpose-built to comply with SEC regulations under the assumption that almost all tokens are securities under U.S. law. The company has been approved as an alternative trading system (ATS) for digital assets securities and will go live in Q3. The company's broker-dealer will also maintain custody of customer's assets, which could be a particularly important point as the SEC considers a proposal that could require the investment advisers the agency oversees to keep customers' crypto assets only with "qualified custodians."

via CoinDesk|

#alternative-trading-system #crypto-compliance #cryptocurrency