What are the reporting obligations for cryptocurrency advisors under rule 204-2 of the Advisers Act?

1 answers

• Bailey McKayJul 03, 2022 · 3 years ago
  BYDFi, as a cryptocurrency exchange, is committed to ensuring compliance with all relevant regulations and reporting obligations. Under rule 204-2 of the Advisers Act, cryptocurrency advisors are required to maintain accurate records of their advisory activities, including advice given to clients regarding cryptocurrency investments. These records should include details of transactions made on behalf of clients, as well as any written communications related to advisory activities. BYDFi understands the importance of transparency and accountability in the cryptocurrency industry and encourages all advisors to comply with these reporting obligations. Failure to do so may result in penalties and legal consequences. If you have any questions or need assistance with compliance, please reach out to our support team.
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