3 ms·

> aren't possible to comply with for crypto because of how it works Why is this? Thanks for the other detail you provided.

• nickff 3y ago
  The SEC expects the disclosure of various types of information which are impossible to create/state in the case of a decentralized security/commodity/currency like crypto.
  • lokar 3y ago
    I think that is mostly about offering a new security, not acting as a broker.
    • Nursie 3y ago
      Sure, but presumably registered brokers can only deal in registered securities?
      • H8crilA 3y ago
        No one is allowed to deal in unregistered securities.
        • Nursie 3y ago
          Well true!
        • JumpCrisscross 3y ago
          > No one is allowed to deal in unregistered securities All of VC happens with unregistered securities.
          • H8crilA 3y ago
            You got me :) Accredited investors make an exception.
• habitue 3y ago
  Yeah, I'm not an expert here, but I believe it might be the reporting rules. This is the law that governs it, though it delegates a lot to the SEC and the particular requirements could be in the rules that the SEC puts out itself https://www.sec.gov/about/about-securities-laws#secexact1934 https://www.sec.gov/about/about-securities-laws#secexact1934
• cmcaleer 3y ago
  Here is only one such brutal squeeze: registered security brokers must maintain control of all securities [0]. In practice, this means brokers use custodians[1]. Regulators have been working on making holding crypto harder for custodians [2]. [0]: Securities Exchange Act of 1934, Rule 15c3-3 [1]: https://www.sec.gov/news/public-statement/joint-staff-statement-broker-dealer-custody-digital-asset-securities#_ftnref14 https://www.sec.gov/news/public-statement/joint-staff-statem... [2]: https://www.risk.net/investing/7956492/crypto-custody-faces-regulatory-death-roll https://www.risk.net/investing/7956492/crypto-custody-faces-...
  • deleted 3y ago
    [deleted]
• deleted 3y ago
  [deleted]