Top 13 questions an investors ask before using an online venues for buying and selling cryptocurrency products.

in #cryptocurrency7 years ago

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The Securities and Exchange Commission yesterday offered financial specialists 13 inquiries to enable them to sniff out inconvenience before utilizing an online settings for purchasing and offering cryptocurrency market items.

The wrong responses to these inquiries could show the ( cryptocurrency exchang ) exchanging stage doesn't give SEC financial specialist insurances and might be unlawful, the controller cautioned. Here are the things to ask:

  • Do you exchange ( buy and sell cryptocurrency ) securities on this stage? Assuming this is the case, is the stage enrolled as a national securities trade?

  • Does the stage work as an Alternative Trading System? Assuming this is the case, is the ATS enrolled as a representative merchant and has it recorded a Form ATS with the SEC?

  • Is there data in FINRA's BrokerCheck ® about any people or firms working the stage?

  • How does the stage select computerized resources for exchanging?

  • Who can exchange on the stage?

  • What are the exchanging conventions?

  • How are costs set on the stage?

  • Are stage clients treated similarly?

  • What are the stage's charges?

  • How does the stage shield clients' exchanging and specifically distinguishing data?

  • What are the stage's assurances against cybersecurity dangers, for example, hacking or interruptions?

  • What different administrations does the stage give? Is the stage enrolled with the SEC for these administrations?

  • Does the stage hold clients' advantages? Assuming this is the case, how are these benefits shielded?

"To get the insurances offered by the government securities laws and SEC oversight when exchanging computerized resources that are securities, financial specialists should utilize a stage or substance enlisted with the SEC, for example, a national securities trade, ATS, or agent merchant," the Commission's Enforcement Division and Division of Trading and Markets said in a joint discharge.

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