Uphold obtains FINRA approval to acquire US broker-dealer
The acquisition will reportedly allow Uphold to launch fractional equities in the United States in 2021. Cryptocurrency wallet and trading platform Uphold has received regulatory approval to purchase JNK Securities, a U.S. broker-dealer.In an announcement from Uphold today, the U.S. Financial Industry Regulatory Authority, or FINRA, gave the firm the green light to acquire JNK Securities. Uphold said the acquisition is aimed at allowing the platform to launch fractional equities in the United States later this year in addition to providing an interface for users to trade between crypto,....
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On Thursday, Apifiny, a global digital asset trading and mining network, announced the company’s subsidiary Apifiny Prime has been granted a broker-dealer license from the Financial Industry Regulatory Authority (FINRA). The firm now joins the ranks of brokerage and exchange businesses like Coinbase, Etoro, and Circle. FINRA Grants Apifiny Prime a Broker-Dealer License The leading regulator that oversees American broker-dealers, FINRA has granted a broker-dealer license to Apifiny Prime. The license allows Apifiny to make private investor placements and vend securities,....
INX Limited, a cryptocurrency exchange that went public on Ethereum last month, agreed to purchase U.S. broker-dealer Openfinance Securities.
U.S. lawmakers asked the SEC and FINRA to clarify how crypto firms can become registered broker-dealers and provide custody services for crypto assets.
Several members of the Congressional Blockchain Caucus are calling for more clarity on broker-dealer rules from the U.S. securities regulator. Nine members of congress have written a letter asking the Securities and Exchange Commission to get its security token guidance straightened out.In a Dec. 9 letter to SEC Chairman Jay Clayton, several members of the Congressional Blockchain Caucus led by Tom Emmer (R-MN) asked the commission to verify rules as to which broker-dealers can custody digital securities. Broker-dealer licensing is required to sell securities in the U.S. The letter also....
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....