Fun

SEC Names Crypto an Exam Priority This Year

News Feed - 2022-04-01 09:04:43

SEC Names Crypto an Exam Priority This Year


The Securities and Exchange Commission (SEC) has listed crypto assets as an examination priority for market participants this year. “In this time of heightened market volatility, our priorities are tailored to focus on emerging issues, such as crypto assets,” said an official with the SEC Division of Examinations. Crypto Assets Among SEC Examination Priorities


The Securities and Exchange Commission’s Division of Examinations published its annual examination priorities Wednesday. Crypto is among the top priorities highlighted in the report this year.


The Division of Examinations conducts the SEC’s National Exam Program, its website details, adding that its “mission is to protect investors, ensure market integrity and support responsible capital formation through risk-focused strategies.”


SEC Chairman Gary Gensler explained that the examination priorities identify key risk areas that the SEC expects registrants — including investment advisers, broker-dealers, self-regulatory organizations, and clearing firms — “to address, manage, and mitigate with vigilance.”


Division of Examinations’ Acting Director Richard Best commented: In this time of heightened market volatility, our priorities are tailored to focus on emerging issues, such as crypto assets and expanding information security threats, as well as core issues that have been part of the SEC’s mission for decades — such as protecting retail investors.


The Examination Priorities report lists five “significant focus areas,” and “Emerging technologies and crypto assets” is one of them. Others are pension funds; environmental, social, and governance (ESG) investing; standards of conduct; and information security and operational resiliency.


Regarding crypto assets, the SEC explained that “The Division will conduct examinations of broker-dealers and RIAs [registered investment advisors] that are using emerging financial technologies to review whether the unique risks these activities present were considered by the firms when designing their regulatory compliance programs.” The securities watchdog elaborated: Examinations of market participants engaged with crypto assets will continue to review the custody arrangements for such assets and will assess the offer, sale, recommendation, advice, and trading of crypto assets.


“In addition, the Division will conduct examinations of mutual funds and ETFs [exchange-traded funds] offering exposure to crypto assets to assess, among other things, compliance, liquidity, and operational controls around portfolio management and market risk,” the report details. Tags in this story broker-dealers, crypto exam, crypto examination, division of examination, esg, Gary Gensler, market participants, rias, SEC, sec crypto priority, sec exam, sec examination, sec national exam


What do you think about the SEC naming crypto an examination priority this year? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Japan Considers Stricter Crypto Regulations in Light of Russia Sanctions REGULATION | 7 mins ago FCA Extends Deadline for Crypto Firms to Meet Regulatory Requirements in UK — 33 Firms Licensed so Far REGULATION | 21 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleLayerzero Labs Secures $135 Million to Bolster Cross-Chain Interoperability Next articleCiti Predicts Metaverse Could Be $13 Trillion Opportunity With 5 Billion Users Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItReport: Digital AUM Surged to $48.7 Billion in March, Average Weekly Flows Turn Negative


The total aggregate digital assets under management (AUM) surged to $48.7 billion in March, up from the $43.9 billion that was recorded in January, the latest data from Crypto Compare has shown. In contrast, the average daily trading volumes fell ... read more.Rio de Janeiro to Accept Cryptocurrency Payments for Taxes Next Year Ghana CBDC Development: New Central Bank Document Outlines Key Motivations for Issuing the Digital Currency 81.79 "Sleeping Bitcoin" From 2011 Worth $3.6M Moved for the First Time in Over a Decade European Union’s MiCA Proposal Progresses to Trilogue Stage Without Bitcoin Ban Provision

News Feed

Bitcoin, Ethereum Technical Analysis: BTC Nears $21,000, ETH Above $1,640 on Saturday
Bitcoin, Ethereum Technical Analysis: BTC Nears $21,000, ETH Above $1,640 on Saturday Bitcoin was back in the green on Saturday, as bulls returned to cryptocurrency markets to star
ETH valuation metric is ‘heating up,’ but analyst says it’s not overvalued
Ciaran Lyons5 hours agoETH valuation metric is ‘heating up,’ but analyst says it’s not overvaluedCryptoQuant CEO Ki Young Ju noted that while Ethereum’s MVRV is rising quickly, onchain activity levels suggest it
Martin Young3 hours agoCourt rules in favor of HelbizCoin investors; class action to go aheadA U.S. federal court has upheld claims by HBZ investors that the company acted fraudulently and also asserted that its token vi
Biggest Movers: FTM, ETC Lead Crypto Gainers to Start the Week
Biggest Movers: FTM, ETC Lead Crypto Gainers to Start the Week ETC rose by over 10% to start the trading week, as prices rose to a two-week high on Monday. FTM also saw its value i
New SLP Telegram Bots Introduced to Bitcoin Cash Supporters
New SLP Telegram Bots Introduced to Bitcoin Cash Supporters The Bitcoin Cash community was recently introduced to two new Telegram bots that use Simple Ledger Protocol (SLP) toke
William Suberg12 hours agoBitcoin hugs $29.5K into CPI as odds split over new US inflation spikeBitcoin looks set to benefit little from the latest CPI figures, analysts warn, with fresh BTC price losses firmly on the ca
Russian Post to Employ Blockchain Technology in Parcel Tracking
Russian Post to Employ Blockchain Technology in Parcel Tracking The national postal operator of Russia plans to implement a parcel tracking system that will rely on blockchain tech
Amaka Nwaokocha14 hours agoPolygon 2.0 begins groundwork for decentralized governanceThe expansion will encompass all blockchains and applications running on the Polygon network, democratizing the upgrade process and fos
Bitcoin Bearish Pattern Points To $51,400 Price Target – Analyst
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Martin Young2 hours agoCrypto Twitter will see less exposure on Google due to rate limit slashAnother impact of Elon Musk’s Twitter limits is lower search visibility on Google, according to SEO experts.1210 Total views
XRPL Hits 2.8 Billion Flawless Transactions—Big Players Are Paying Attention
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitrue To List SundaeSwap As Cardano’s DEX Gets Off To A Rocky Start
Bitrue To List SundaeSwap As Cardano’s DEX Gets Off To A Rocky Start press release PRESS RELEASE. SundaeSwap (SUNDAE) has been added to the list of tradable assets supported by le