Diversified Crypto Fund Receives FINRA Regulatory Approval

Grayscale Investments has received regulatory approval to publicly quote shares of its diversified crypto fund. The product, which is the firm’s only diversified offering, invests in five main cryptocurrencies. In addition, the firm offers nine single-asset investment funds, some of which are also quoted publicly. Also read: 7 Crypto Exchange-Traded Products Now Live on Swiss…

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The Crypto Custody Conundrum: What Are We Even Talking About?

Noelle Acheson is a veteran of company analysis and CoinDesk’s Director of Research. The opinions expressed in this article are the author’s own. The following article originally appeared in Institutional Crypto by CoinDesk, a free weekly newsletter focused on crypto assets. Sign up here. For a primer on crypto custody concepts, you can download our free report here. …

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Canadian Government Releases Final AML Regulations for Crypto Businesses

Aware of growing public concern about money laundering and terrorist financing, the government of Canada introduced its final anti-money laundering (AML) regulations today, July 10, 2019. These rules will impact Canadian crypto businesses, including exchanges, digital platforms, custodial wallets, ICOs, utility and gaming tokens, escrow services and possibly bitcoin ATMs. The title of the new…

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Op Ed: The Latest on FINRA and SEC Security Token and Custody Rules

On July 8, 2019, the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) put out a joint statement discussing broker-dealer custody of digital asset securities.  These organizations aspire to address compliance issues faced by companies wishing to transact in “digital asset securities” (any kind of asset that is issued and…

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FINRA Fines Ex-Merrill Lynch Investment Adviser Over Crypto Mining Sideline

U.S. self-regulatory organization, the Financial Industry Regulatory Authority (FINRA), has fined and suspended an investment adviser over undeclared cryptocurrency mining activities. According to a letter of acceptance, waiver and consent published by FINRA on June 10, Kyung Soo Kim had been working at Merrill Lynch and was registered with the watchdog as a general securities representative through the firm…

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U.S. Regulators Approve Coinbase Acquisitions, Enabling It to List Security Tokens

Coinbase Inc., has announced that the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINFRA) have approved its purchase of three companies that will enable the cryptocurrency exchange and wallet service to offer security tokens under federal oversight, according to Bloomberg. Speaking with the publication, a Coinbase spokesperson said the regulators…

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