U.S. SEC Warns Advisers They Need to Know Crypto Before Recommending to Clients

Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.The U.S. Securities and Exchange Commission is advising brokers and investment advisers that they need to use heightened scrutiny when it comes to making crypto recommendations to ensure the risky products are in the best interests of their clients, the agency said in a new bulletin.

The Thursday staff bulletin – outlining the duties the advisers have to customers – specifically mentioned crypto, continuing the agency’s recent focus on the sector after having largely ignored digital assets in its rules and guidance until last year. “Certain products are more complex or have additional risk features, which may make it more difficult for firms and their financial professionals to develop an understanding,” according to the SEC guidance, and “crypto asset securities” are among the examples provided.

which Chair Gary Gensler said will almost certainly leave out existing crypto platforms. In the SEC’s view, that generally means keeping the assets with a chartered bank or trust company or a broker-dealer registered with the agency – potentially meaning the SEC is seeking to effectively sever the advisers from the crypto sector.

SECGov jesseahamilton Wait a minute, isn't that what all investment advisors have to do before they recommend a stock..? It's called due diligence..

SECGov jesseahamilton What if SEC, Fed, US govt, IMF, BIS, elites can’t save the USD? What if BRICS+ succeed with trading in their currencies? What if you don’t own any BTC?

SECGov jesseahamilton firegarygensler

SECGov jesseahamilton That's more dollars for the goblin army! Hooray for us! Away with pesky innovation!

SECGov jesseahamilton Absolutely, and thats where Zeus KYD comes in! With its focus on KYC-focused technology, it ensures the safety and trustworthiness of DeFi. Plus, $ZEUS tokens are available for purchasin on Uniswap!

SECGov jesseahamilton DEFUND 💯

SECGov jesseahamilton Stay safe out there kids

SECGov jesseahamilton As the very same SECGov and the lying, non answering Gensler won't give clear regulations to the US retail and corporate investors.

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