The Financial Industry Regulatory Authority (FINRA), a self-regulatory body for broker-dealersm has released a regulatory notice to mandate its member to notify the authority if they engage in any cryptocurrency activity.



Though the notice outlines what constitutes cryptocurrency activities, it does not detail how FINRA would use these disclosures nor does its website show any explanation. Since the self-regulatory body focuses on protecting retail investors in all financial markets, it can be assumed that the disclosures would help in this goal.


FINRA states,

FINRA is issuing this 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.


Like many of the SEC’s closed-door deliberations on cryptocurrency regulations, especially as they relate to the “Howey Test” for ICOs, FINRA’s notice leaves much to be desired on the future plans of the body for protecting investors.

Resource: Click here.



To know more about cryptocurrency signals free chat Join: