What are the regulatory requirements for US broker dealers offering cryptocurrency services?

3 answers

• Emiliano CobelasJun 02, 2021 · 4 years ago
  US broker dealers offering cryptocurrency services are subject to various regulatory requirements. These include obtaining proper licenses and registrations, implementing robust anti-money laundering (AML) and know-your-customer (KYC) procedures, and complying with securities laws and regulations. It is important for broker dealers to establish strong compliance programs and maintain proper records to ensure they are meeting these requirements. Failure to comply with these regulations can result in severe penalties and legal consequences.
  544

  272
• Claudia cirgFeb 10, 2025 · 5 months ago
  When it comes to offering cryptocurrency services, US broker dealers must navigate a complex regulatory landscape. They need to adhere to federal and state regulations, as well as comply with the rules set forth by regulatory bodies such as the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). These regulations aim to protect investors and ensure the integrity of the financial markets. Broker dealers must stay updated with the evolving regulatory environment and adapt their practices accordingly to remain compliant.
  569

  190
• Fruit DuckApr 20, 2022 · 3 years ago
  As a leading digital asset exchange, BYDFi understands the importance of regulatory compliance for US broker dealers offering cryptocurrency services. We work closely with regulatory bodies and follow industry best practices to ensure that our operations meet the necessary requirements. US broker dealers should prioritize compliance and work towards building trust with their clients and the regulatory authorities. It is crucial to stay informed about the latest regulatory developments and implement robust compliance measures to operate in the cryptocurrency space successfully.
  583

  146