A cryptocurrency exchange settled charges for failing to register with the SEC as a "dealer" in securities.
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The SEC charged an online crypto asset trading platform for failing to register with the SEC as an exchange, as a clearing agency and as a broker-dealer of crypto asset securities.
SEC Commissioner Mark T. Uyeda highlighted current regulatory challenges concerning (i) the definition of "dealer" under the Exchange Act, (ii) the lack of guidance over cryptocurrencies and (iii) the handling of off-channel communications by broker-dealers.
In an annual report, the SEC Division of Examinations identified current risks for investors and registrants and highlighted key areas for examination in 2024.
A trading platform and its CEO settled SEC charges for operating as a broker-dealer, an exchange and a clearing agency of crypto asset securities without registering with the SEC.