#FINRA News

Grayscale Investments First to list Crypto-Backed Digital Large Cap Fund

October 15, 2019 by Ogwu Osaemezu Emmanuel at Altcoins

Grayscale Investments, a cryptoasset management firm with more than $2 billion in assets under management, has successfully secured approval from the Financial Industry Regulatory Authority (FINRA) for the public listing of its Digital Large Cap Fund (DLC) on over-the-counter (OTC) markets with ticker symbol: GDLCF, according to a press release...

A man watching bitcoin and Ethereum bob along in the sea

FINRA Requests Financial Firms Report to them Prior to Dealing with Digital Assets

July 21, 2019 by Ashwath Balakrishnan at Regulation

The Financial Industry Regulatory Authority (FINRA) previously asked its member firms to inform them before they engaged in activities relating to digital assets. In a new notice, FINRA has confirmed the continuation of this rule along with a few more added clauses in an attempt to set a precedent for...

SEC Sues Shopin and its Founders for Fraudulent ICO Project

SEC Releases Update on Digital Asset Custody Findings

July 10, 2019 by Ashwath Balakrishnan at Regulation

The U.S. SEC, with guidance from FINRA, has offered an update on the current situation of custodial solutions with broker-dealers in an official release. The update offers clarity on how custodial and non-custodial solutions are going to be treated and the various benefits and drawbacks that apply to each of...

FINRA and SEC Frustrating U.S Crypto Startups

June 19, 2019 by Ogwu Osaemezu Emmanuel at News, Regulation

The Financial Industry Regulatory Authority (FINRA), a non-governmental and self-regulatory organization (SRO) in charge of regulating member brokerage firms, has been reluctant to approve the application of nearly 40 firms looking to offer crypto-related services in the region. Some insider sources have revealed that FINRA’s inaction stems from the fact...

Bitcoin Trader Blacklisted by FINRA over $1.5 Million BTC Scam

March 27, 2019 by Osato Avan-Nomayo at Bitcoin, Crime, News, Regulation

A Colorado-based bitcoin (BTC) trader is one of 27 individuals recently blacklisted by the United States Financial Industry Regulatory Authority (FINRA). On March 25, 2019, CNBC reports that the BTC trader was part of a $1.5 million bitcoin scam which also included his brother who is currently on the run...

Circle Internet Financial Acquires SeedInvest Crowdfunding Platform

March 6, 2019 by Ogwu Osaemezu Emmanuel at Business, Finance, News, Regulation

Circle, a U.S-based fintech firm has completed the acquisition process of SeedInvest in a bid to establish a robust token marketplace that would allow businesses as well as individuals to raise capital via open crypto rails and infrastructure, according to a blog post March 4, 2019. Circle Officially Takes Over...

U.S. Federal Court Defines Cryptocurrencies as Commodities

FINRA Fines Morgan Stanley $5 Million for Sub-Standard Anti Money Laundering Practices

December 30, 2018 by Shaurya Malwa at Finance, News, Regulation

The American financial industry regulatory authority, FINRA, has fined wall Street bank Morgan Stanley for violating anti-money laundering (AML) rules over a period of five years, reported Finance Magnates on December 26, 2018. Fraud in the Traditional Space FINRA stated the financial giant failed to adhere to three requirements of...

FINRA Releases Alert on Cryptocurrencies and ICOs

August 21, 2018 by Cindy Huynh at Altcoins, Bitcoin, ICO/IEO, News, Regulation

According to the Financial Industry Regulatory Authority (FINRA), Initial Coin Offerings (ICOs) and cryptocurrencies are investments that have significantly higher risks than conventional assets like stocks and bonds. FINRA noted that cryptocurrencies hold significant uncertainty and may even be fraudulent. While all forms investments come with a certain level of...

Coinbase RoundUp: Token Additions, SEC Acquisition, and FINRA Probe?

July 23, 2018 by Priyeshu Garg at Adoption, Altcoins, Business, Development, Finance, Investment, News, Regulation

One of the first crypto unicorns in the space, Coinbase, has enjoyed the same volatility native to the sector it represents just this past week. Most notably, the firm announced the potential addition of five new cryptocurrencies, an odd (and apparently unnecessary) declaration regarding confirmation from the SEC and FINRA,...

Tezos Co-Founder FINRA Suspension Could Impact Project Launch

April 23, 2018 by Priyeshu Garg at Altcoins, Business, Finance, News, Regulation

The fine issued by the Financial Industry Regulatory Authority (FINRA) to Tezos co-founder Arthur Breitman could reportedly affect the Tezos project, especially if the SEC deems its tokens to be a security. On April 18, 2018, Breitman was fined $20,000 for alleged violations of FINRA regulations, a charge he neither...