Time to Worry? SEC Latest Probe Targets Cryptocurrency Brokerage Firms
Posted: Wed Aug 01, 2018 6:13 pm
The Securities and Exchange Commission sent information requests in recent weeks to dozens of US brokerage firms who are involved in cryptocurrency, Bloomberg reported Thursday, as tacking misconduct in the burgeoning market is increasingly taking center stage into the agency’s scope.
Among other things, the sweeping probe by the top U.S. securities regulator examines the brokers’ business practices and how they deal with clients, as well as fees generated from crypto trading, financing and ICOs. The SEC’s requests also seek information about the structure for sales, clearing agreements, marketing materials, details on personnel and advisors involved, and more.
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