SEC’s Division of Examinations issues Risk Alert on digital assets
The Risk Alert seemed to take particular aim at broker-dealers, who have been "inadequate" in their AML compliance. The Security and Exchange Commission's Division of Examinations published on Friday a blueprint for investment managers and institutions on how the division will inspect the handling of crypto assets, or “digital asset securities,” moving forward. The division (formerly the Office of Compliance Inspections and Examinations) is the second-largest wing of the SEC and is tasked with overseeing securities industry players to ensure regulatory compliance. Targeted toward....
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The Securities and Exchange Commission (SEC) has listed crypto assets as an examination priority for market participants this year. “In this time of heightened market volatility, our priorities are tailored to focus on emerging issues, such as crypto assets,” said an official with the SEC Division of Examinations. Crypto Assets Among SEC Examination Priorities The Securities and Exchange Commission’s Division of Examinations published its annual examination priorities Wednesday. Crypto is among the top priorities highlighted in the report this year. The Division of....
The Crypto Assets and Cyber Unit of the SEC’s Enforcement Division, which is tasked with policing cryptocurrency firms, will add 20 people to its staff. The United States Securities and Exchange Commission (SEC) announced Tuesday that it would nearly double the number of personnel responsible for safeguarding investors in cryptocurrency markets. As per the announcement, the SEC’s Cyber Unit, which includes the Crypto Assets and Cyber team, will hire 20 new people for 50 dedicated positions.The SEC stated that the 20 hires would include investigative staff attorneys, trial lawyers and fraud....
In a year marked by regulatory scrutiny and enforcement actions against the crypto industry, the US Securities and Exchange Commission (SEC) shows no signs of slowing down. The SEC’s Division of Examinations recently unveiled its 2024 priorities, signaling a potential tightening of regulations for crypto exchanges, firms, and cryptocurrencies falling under the SEC’s definition of […]
Multinational bank Citi is on a hiring spree to expand its blockchain and digital assets division. The company first launched its digital assets division in June this year. Now, it plans to grow the division by hiring 100 new people. Related Reading | Why Citi Is “Slowly” Building A Crypto Infrastructure, CEO Says As part of […]
It wouldn't be a complete week without some sort of government agency issuing a warning on bitcoin. And that is exactly what the United States Securities and Exchange Commission has done. The agency - who is responsible for enforcing securities laws - released this investor alert on Wednesday warning citizens of the perils of bitcoin. The alert, which starts with a primer of the digital currency makes the following points:"Investments involving Bitcoin may have a heightened risk of fraud." "Bitcoin users may be targets for fraudulent or high-risk investment schemes." "Using Bitcoin may....