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FINRA wants firms to detail dabbling in virtual currencies

Joe Mont | July 10, 2018

The Financial Industry Regulatory Authority—a self-regulatory organization that works with the Securities and Exchange Commission to oversee brokerage firms and exchanges—wants those firms to alert it if they engage in activities related to digital assets and cryptocurrencies.

In a regulatory notice released on Friday, FINRA said it was monitoring developments in the digital asset marketplace and is undertaking efforts to ascertain the extent of its members’ involvement. It says it is issuing the notice “to encourage each firm to promptly notify FINRA if it, or its associated persons or affiliates, currently engages, or intends to engage, in any activities related to digital assets, such as cryptocurrencies and other virtual coins and tokens.”

Also, until July 31, 2019, FINRA encourages each firm “to keep its regulatory coordinator abreast of changes in the event...

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