U.S. regulator considers stricter regulations on selling crypto assets
The Financial Industry Regulatory Authority (Finra) wants to examine current cryptocurrency regulations and make the necessary amendments, which are expected to be more restrictive.
Why is it so important?
- More stringent regulations may affect the cryptocurrency price
- More stringent regulations may lead to difficulties in owning and selling crypto assets
According to Barron’s, the U.S. regulator will conduct a series of audits resulting in new regulations and updates to existing ones. "We're also looking at a reg notice about the rules around the sale of crypto assets by or through our member firms, and in particular advertising and disclosure requirements," Finra CEO Cook said. "In part, this notice would talk about what are the rules today, but also how should those rules evolve to make sure that we're protecting investors appropriately."
Such attention to crypto-assets is caused by investors' growing interest in this sector. So Finra's task is to prevent investors from any fraudulent actions of crypto project owners.