The trial and conviction of Ross Ulbricht for his administration of the Silk Road darknet market represented a landmark event in cryptocurrency. For many, the investigation and sentencing were a contradiction to the commonly held belief that cryptocurrency and activities involving cryptocurrency could not be regulated by the government. For others, the injustices and illegalities of the proceedings confirmed peoples’ beliefs that law and order is not what it’s claimed to be.
The Financial Industry Regulatory Authority has issued a notice encouraging every firm that sells securities to the public in the U.S. to disclose any activities “related to digital assets, such as cryptocurrencies and other virtual coins and tokens.”
Firms Encouraged to Disclose Crypto Involvement
The Financial Industry Regulatory Authority (FINRA) issued a Regulatory Notice last week on digital assets.
A not-for-profit organization authorized by Congress, FINRA is not part of the U.S. government but is tasked with protecting America’s investors by making sure the broker-dealer industry operates fairly and honestly, its website describes.
The financial authority of Abu Dhabi Global Market has launched a regulatory framework for cryptocurrency activities following the completion of a public consultation. The market’s financial watchdog has also published a guideline explaining how crypto asset activities are now regulated.
Crypto Regulatory Framework Launched
Abu Dhabi Global Market (ADGM) announced this week that it has launched a “framework to regulate spot crypto asset activities, including those undertaken by exchanges, custodians and other intermediaries in ADGM.”