Statement from SEC and FINRA codifies questions for broker-dealer custody6

There's a backlog of crypto firms looking to snag a license to operate broker dealer licenses, but regulators are unlikely to give the green light until the space cleans up.

A statement issued jointly by the Securities Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) codified some of the concerns the agencies have about crypto firms operating as broker dealers, but industry experts who spoke to The Block say the industry will have to figure out how to solve to address those issues, such as accounting for and guarding against the loss or hacking of digital securities.

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