Bitcoin
Bitcoin (BTC)
$67,543.00 -0.54833
Bitcoin price
Ethereum
Ethereum (ETH)
$3,473.75 -1.36845
Ethereum price
BNB
BNB (BNB)
$590.59 -1.96942
BNB price
Solana
Solana (SOL)
$179.16 -1.61616
Solana price
XRP
XRP (XRP)
$0.6131770 2.70526
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000176 -2.47121
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000122 -1.08465
Pepe price
Bonk
Bonk (BONK)
$0.0000295 -7.48687
Bonk price
Bitcoin
Bitcoin (BTC)
$67,543.00 -0.54833
Bitcoin price
Ethereum
Ethereum (ETH)
$3,473.75 -1.36845
Ethereum price
BNB
BNB (BNB)
$590.59 -1.96942
BNB price
Solana
Solana (SOL)
$179.16 -1.61616
Solana price
XRP
XRP (XRP)
$0.6131770 2.70526
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000176 -2.47121
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000122 -1.08465
Pepe price
Bonk
Bonk (BONK)
$0.0000295 -7.48687
Bonk price
Bitcoin
Bitcoin (BTC)
$67,543.00 -0.54833
Bitcoin price
Ethereum
Ethereum (ETH)
$3,473.75 -1.36845
Ethereum price
BNB
BNB (BNB)
$590.59 -1.96942
BNB price
Solana
Solana (SOL)
$179.16 -1.61616
Solana price
XRP
XRP (XRP)
$0.6131770 2.70526
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000176 -2.47121
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000122 -1.08465
Pepe price
Bonk
Bonk (BONK)
$0.0000295 -7.48687
Bonk price
Bitcoin
Bitcoin (BTC)
$67,543.00 -0.54833
Bitcoin price
Ethereum
Ethereum (ETH)
$3,473.75 -1.36845
Ethereum price
BNB
BNB (BNB)
$590.59 -1.96942
BNB price
Solana
Solana (SOL)
$179.16 -1.61616
Solana price
XRP
XRP (XRP)
$0.6131770 2.70526
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000176 -2.47121
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000122 -1.08465
Pepe price
Bonk
Bonk (BONK)
$0.0000295 -7.48687
Bonk price

SEC to tighten oversight over crypto investment advisors

sec-to-tighten-oversight-over-crypto-investment-advisors
Edited by
News
SEC to tighten oversight over crypto investment advisors

The US financial watchdog has issued a notice entailing tighter scrutiny of crypto brokers and financial advisers giving crypto investment services this year.

The United States Securities and Exchange Commission (SEC) has announced that the securities market will face new rules governing crypto brokers and investment advisers giving clients financial advice on cryptocurrencies. 

In the public statement, the SEC identified digital assets such as cryptocurrencies as “emerging technologies” with “potential risks to investors and the integrity of the US capital markets,” hence the need for new regulations.

According to the publication, crypto brokerage dealers, including advisers and companies, should meet several conditions before selling, issuing, or recommending the purchase of a digital asset. For instance, the firm should constantly monitor, update and review SEC compliance codes, disclosure, and risk management practices.

2022’s SEC publication

The SEC issued a similar notice at the beginning of 2022. Throughout the year, the financial watchdog showcased its interest in pushing for tight regulations on cryptocurrencies and other blockchain-based emerging markets. At the same time, the firm also apprehended and charged suspects who allegedly took part in crypto rug pulls, scams, and hacks. 

This year’s announcement seems to take a new direction on investment advice from registered entities in protecting retail investors contrary to “risks involved in emerging technologies and crypto assets” bolded in last year’s publication.

The collapse of FTX, a multibillion-dollar empire once in the hands of Sam Bankman Fried, sparked a wave of regulatory uprising worldwide. Financial watchdogs could keep a third eye on cryptocurrency firms and now registered investment advisors to prevent such catastrophic losses.