U.S. SEC: Advises investment advisors to strengthen scrutiny when recommending cryptocurrencies

2023-04-21 07:46:34

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ChainCatcher news, according to CoinDesk, the U.S. Securities and Exchange Commission (SEC) stated in a new announcement that it recommends brokers and investment advisors to enhance their scrutiny when recommending cryptocurrencies to ensure that risky products align with the best interests of their clients.

According to the SEC's guidance, "certain products are more complex or have additional risk characteristics that may make it more difficult for financial professionals to understand." "Crypto asset securities" fall into this category. Therefore, when brokers or advisors discuss cryptocurrencies with clients, they must ensure that clients understand these products, and the recommended crypto products should be suitable for the clients' specific financial situations. (source link)

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