What are the best practices for cryptocurrency platforms to comply with FINRA Rule 606?

3 answers

• Eggzagger8Sep 19, 2024 · a year ago
  As a cryptocurrency platform, it is crucial to comply with FINRA Rule 606 to maintain transparency and trust with your users. Some best practices to consider include: conducting regular audits of order routing practices, providing clear and accurate disclosures of routing practices to customers, implementing policies and procedures to monitor and address any conflicts of interest, and maintaining records of order routing information for at least six years. By following these practices, you can demonstrate your commitment to compliance and enhance the overall user experience.
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• Lahari MannamAug 19, 2021 · 4 years ago
  Complying with FINRA Rule 606 is essential for cryptocurrency platforms to ensure fair and transparent order execution. To meet the requirements, consider implementing robust systems and controls to monitor and evaluate order routing practices. This includes regularly reviewing and assessing the quality of execution venues, providing customers with detailed information about the routing of their orders, and promptly addressing any conflicts of interest that may arise. By prioritizing compliance, you can build trust and credibility among your users.
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• Gparker12345Mar 20, 2025 · 5 months ago
  At BYDFi, we understand the importance of complying with FINRA Rule 606. To ensure adherence, we have implemented a comprehensive system that includes regular audits, transparent disclosures, and strict monitoring of order routing practices. Our commitment to compliance allows us to provide our users with a fair and trustworthy trading environment. By following industry best practices and continuously improving our compliance measures, we strive to exceed regulatory requirements and deliver an exceptional user experience.
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