FINRA: 70% of crypto communications violate regulations
Cryptocurrency, the digital gold rush of our times, has hit a regulatory snag. The Financial Industry Regulatory Authority (FINRA) has unleashed a thunderbolt in the form of a report: approximately 70% of crypto-related communications are tangled in a web of violations. These aren’t just minor missteps; they’re serious breaches involving false, exaggerated, and misleading claims. […]
FINRA Introduces Crypto Assets Section in 2024 Annual Oversight Report
The Financial Industry Regulatory Authority (FINRA), the self-regulatory organization overseeing U.S. securities broker-dealers, has taken a significant step forward in addressing the evolving world of cryptocurrency. For the first time, its 2024 Annual Regulatory Oversight Report includes a dedicated section on crypto assets. The inclusion reflects the growing importance of crypto assets in the financial […]
Prometheum Secures FINRA Approval for Digital Asset Securities Clearing Services
Prometheum, a digital asset firm, has received a significant regulatory nod from the Financial Industry Regulatory Authority (FINRA), granting it the ability to offer digital asset securities clearing and settlement services. The approval, obtained through its special purpose broker-dealer license from the Securities and Exchange Commission (SEC), marks a notable advancement in the crypto industry […]
US lawmakers urge SEC, FINRA on Prometheum approval
Mounting pressure descends on the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) as prominent figures from the House Financial Services Committee demand clarity over the somewhat controversial granting of a special purpose broker-dealer (SPBD) license to Prometheum. Questionable License Approval Raises Eyebrows The committee, chaired by Patrick McHenry, joined by 20 […]
