Cryptocurrency startups voice displeasure at FINRA delays

Approximately forty broker-dealer applications from cryptocurrency startups have been waiting for approval from the Financial Industry Regulatory Authority, CoinDesk writes. The agency has been slow to act on new broker-dealer licenses, and some companies claim it is holding off approvals due to the lack of guidance from the SEC.

FINRA manage the approvals for broker-dealers—companies that buy and sell securities. If a company wishes to become a qualified custodian and alternative trading system (ATS), it needs to obtain a broker-dealer license first.

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