The Financial Authority of the USA UU Ask the brokerage companies to reveal the cryptography activities.

The Financial Industry Regulatory Authority has issued a notice encouraging all companies that sell securities to the public in the US. UU To disclose any activity "related to digital assets, such as cryptocurrencies and other currencies and virtual tokens".

The Financial Industry Regulatory Authority (FINRA) issued a Regulatory Notice last week on digital assets.

A nonprofit organization authorized by Congress, FINRA is not part of the US government. UU But he has the task of protecting US investors by making sure that the broker-dealer industry operates fairly and honestly, describes his website.

With few exceptions, the Authority explains that in addition to registering with the US Securities and Exchange Commission. UU (SEC):

"Every company and broker that sells securities to the public in the United States must be licensed and registered by FINRA."

Individual registered representatives must also register with FINRA. According to its website, FINRA had 629,112 registered representatives and 3,712 member firms in April.

In the 4-page notice, the Authority emphasized that "it is monitoring the evolution of the digital asset market and is making efforts to determine the degree of participation of FINRA members related to digital assets," adding:

"FINRA is issuing this notice to encourage each company to promptly notify FINRA if it, or its associated or affiliated persons, is currently engaged, or intends to participate, in any activity related to digital assets, such as cryptocurrencies and other currencies. virtuals and tokens ".

In addition, until July 31 of next year, the Authority "encourages each company to keep its Regulatory Coordinator aware of the changes in case the firm, or its associated or affiliated persons, determine to participate in activities related to assets digital media not previously disclosed. "

In the annual letter of FINRA examination and regulatory priorities, published earlier this year, CEO Robert Cook noted that cryptocurrencies and initial offers of currencies "have received significant attention from the media, the public and regulatory authorities in the last year to the regulatory programs of the organization ".

Detailed Cook:

"FINRA will closely monitor developments in this area, including the role that firms and registered representatives can play in conducting transactions in those assets and ICO. When these assets are securities or when an ICO involves the offer and sale of securities, FINRA can review the mechanisms that the firms have established to ensure compliance with the relevant federal securities laws and regulations and the FINRA rules. "

Previously, the Authority issued a notice advising investors about pumping and unloading schemes. He advised them to "be careful when considering the purchase of shares of companies that promote the potential for high returns associated with cryptocurrency-related activities without the business fundamentals and transparent financial reporting to support such claims."