Exchange Regulator FINRA Cites Bitcoin in Annual Risk Assessment
A self-regulatory organization tasked with overseeing brokerage firms and exchange markets is attempting to obtain more information about how its members may be using bitcoin or other virtual currencies. The inquiry comes as part of the Financial Industry Regulatory Authority’s (FINRA) 2016 Risk Control Assessment Survey, an optional poll that seeks to improve the organization’s understanding of member operations and the potential risks associated with those activities. The survey was sent to members at the beginning of June, and comes amid a larger inquiry by many government and....
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The Financial Industry Regulatory Authority (FINRA), the largest independent regulator in the US, issued an investor alert about bitcoin on 11th March, calling the digital currency "more than a bit risky" as part of a new warning to consumers and investors. FINRA said the alert aims to raise awareness about the downsides of bitcoin investments in light of the recent high-profile struggles of bitcoin business. Read the release: "FINRA is issuing this alert to caution investors that buying and using digital currency such as bitcoin carry risks. Speculative trading in bitcoins carries....
FINRA believes the widespread use of blockchain could come to impact its core business practices. The self-regulatory organization for US brokers published a new report on blockchain tech yesterday that offers both a broad overview of the tech from the context of its industry, as well as its take on its potential impact on the brokerage sector. FINRA has been open about its work on the technology (in conjunction with its members) in the past, though the release constitutes some of its most direct comments to date. Most notably, FINRA said that, should the tech see broader use in the....
“Anybody who is getting laid off from a crypto platform and wants to work for FINRA, give me a call," said president and CEO Robert Cook. The United States Financial Industry Regulatory Authority, or FINRA, reportedly plans to “bulk up” its capability to monitor crypto — a move that could include scooping up employees recently terminated from crypto companies.According to a Tuesday Reuters report, FINRA president and CEO Robert Cook encouraged crypto workers who expect to be on the chopping block to reach out to the financial regulator as part of its efforts to increase resources related....
Ghana’s Financial Intelligence Centre says the use of virtual markets and virtual currencies such as bitcoin and kitiwa is a severe risk to the country’s security. The assessment is based on available international records that show insurgencies have been funded from Ghana. Saddled with combating money laundering and terrorist financing, the centre is now working to make Ghana the first country in West Africa to publish its national risk assessment. The country will also undergo the second phase of a regional mutual evaluation against money laundering in its readiness to fight the crime,....
The US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) are reportedly investigating suspicious trading patterns in the shares of certain companies that have announced crypto treasury strategies. Related Reading: BNB Chain To Host KBW25 And TOKEN2049 Side Events For Builders, Web3 Enthusiasts SEC, FINRA Scrutinize Suspicious Trading Moves On Thursday, […]