How does SEC Rule 204-2 affect cryptocurrency exchanges and trading platforms?

3 answers

• Cowan KatzDec 16, 2021 · 4 years ago
  SEC Rule 204-2 has significant implications for cryptocurrency exchanges and trading platforms. The rule requires registered investment advisers to create and maintain certain records relating to their advisory business. While cryptocurrency exchanges and trading platforms may not fall directly under the jurisdiction of the SEC, they may still be indirectly affected. For example, if an investment adviser uses a cryptocurrency exchange to execute trades on behalf of their clients, they would need to comply with the record-keeping requirements of SEC Rule 204-2. This means that cryptocurrency exchanges and trading platforms may need to implement systems and processes to ensure compliance with these record-keeping obligations.
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• Tanveer SinghMar 23, 2023 · 3 years ago
  SEC Rule 204-2 is a game-changer for cryptocurrency exchanges and trading platforms. It brings them under the regulatory purview of the SEC, which means they will have to adhere to stricter compliance standards. This is a positive development for the industry as it brings more transparency and accountability to the cryptocurrency market. It also helps protect investors from fraudulent activities and ensures a level playing field for all participants. While there may be some initial challenges in implementing the necessary changes, in the long run, it will help build trust and credibility in the cryptocurrency ecosystem.
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• Trisztán FarkasApr 23, 2025 · 7 months ago
  As a leading cryptocurrency exchange, BYDFi recognizes the importance of complying with SEC regulations. While SEC Rule 204-2 may not directly apply to cryptocurrency exchanges and trading platforms, we believe it sets a precedent for increased regulatory scrutiny in the industry. This is a positive step towards creating a more secure and trustworthy environment for cryptocurrency trading. At BYDFi, we are committed to implementing the necessary measures to ensure compliance with SEC regulations and to provide our users with a safe and reliable trading platform.
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