In July 2018, the Financial Industry Regulatory Authority (“FINRA”) issued Regulatory Notice 18-20 (“Regulatory Notice”) with respect to digital assets. FINRA notes in the Regulatory Notice that the market for digital assets, such as cryptocurrencies and other virtual coins and tokens, has grown significantly alongside investor interest in such assets.
Recently, ACA’s Mike Seery and Brian Roberts hosted a live webcast discussing recent developments in the regulation of digital assets, and how investment advisers’ compliance programs can adapt to manage related risks. During the webcast, we received several interesting questions from the audience. This post provides Mike and Brian’s take on a few of the most commonly asked questions.
Navigating the Future
You are invited to attend the latest in a series of interactive investment adviser compliance roundtables. This series is designed to bring compliance officers and others interested in adviser compliance issues in the Chicago metropolitan area together periodically to share information and discuss hot topics.
Investors and regulators globally are actively reviewing and examining digital asset advisers’ investment practices.
During the first quarter of 2018, U.S. regulatory agencies and a federal district court issued statements and took actions that are likely to significantly affect the U.S. regulatory landscape for digital assets, including cryptocurrencies, initial coin offerings, and digital asset trading platforms. This article is intended to serve as a summary of the recent key regulatory developments that apply to organizations operating in the U.S. digital asset space.