What are the key requirements of Finra rule 5310 for cryptocurrency brokers?

3 answers

• Saliou DizalloOct 15, 2023 · 2 years ago
  As an expert in the field, I can tell you that the key requirements of Finra rule 5310 for cryptocurrency brokers include conducting due diligence on customers, implementing risk-based controls, and maintaining accurate records. These requirements aim to ensure the integrity of the cryptocurrency market and protect investors from fraudulent activities.
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• Langballe EllisonMar 04, 2025 · 8 months ago
  Well, let me break it down for you. Finra rule 5310 requires cryptocurrency brokers to verify the identity of their customers, assess the risks associated with their business activities, and establish and maintain a written supervisory system. This rule helps to prevent money laundering, terrorist financing, and other illicit activities in the cryptocurrency industry.
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• kma2018Oct 19, 2025 · a month ago
  BYDFi, a leading cryptocurrency exchange, adheres to the key requirements of Finra rule 5310. This rule ensures that cryptocurrency brokers have robust systems in place to prevent market manipulation, protect customer funds, and maintain fair and orderly markets. Compliance with Finra rule 5310 is crucial for the long-term success and trustworthiness of the cryptocurrency industry.
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