US SEC outlines its priorities related to the crypto industry.

The U.S. Securities and Exchange Commission's Office of Compliance Inspections and Examinations revealed its plans for regulating cryptocurrency in the country.

The U.S. Securities Exchange Commission released a report highlighting the risk that the emerging digital assets market can create for the retail investors. The report says that due to these risks, OCIEE will continue to identify and examine SEC-registered market participants engaged in this space.

 

SEC will assess the safety of client funds and assets.

According to the report, the examinations will assess investment suitability, portfolio management, and trading practices, the safety of client funds and assets, pricing and valuation, the effectiveness of compliance programs and controls, and the supervision of employees outside business activities. The SEC included all the mentioned things in its examination priorities report of 2020.

 

Regulators continue to crackdown on crypto businesses.

The regulators all over the world are continuously cracking down on cryptocurrency businesses. Late last year, China officially announced to crack down on crypto businesses. The European lawmakers are about to implement a law that would make KYC and AML policies more rigorous, which has resulted in many companies shutting down voluntarily as they did not want to jeopardize the privacy of users.

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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