September 23, 2023

SEC determines crypto priorities for 2020

SEC determines crypto priorities for 2020

Office of Compliance Inspections and Examinations (OCIE), which is part of the US Valuable Commission securities and exchanges decided on priorities for the coming year, including in the direction of digital assets.

According to a new document, the emerging market for digital assets poses risks for retail investors, who may not fully understand the differences between this type of asset and traditional.

Due to these risks, OCIE intends to continue to study the SEC market participants in this space. The regulator will evaluate the following:

  1. suitability for investment
  2. portfolio management and trading methods,
  3. customer safety funds and assets,
  4. pricing and pricing
  5. the effectiveness of compliance monitoring programs and tools,
  6. supervision of employees outside of business.

Recall, for the first time, OCIE added a section on cryptocurrencies in 2018 in order to study the mechanism by which service providers protect customer assets and correctly disclose the risks associated with their products.

In 2019, OCIE representatives announced planscontrol market participants in terms of portfolio management, trading practices, security of client funds, pricing, compliance and internal control. This year, the agency reaffirmed its goals for 2019, adding an assessment objective in relation to “supervision of employees outside of business”.

The document also notes the intention of OCIEcontinue to study the process of maintaining records and the safety of funds and securities. The document states that its main areas of activity include agents who develop blockchain technology and those who provide digital asset services.