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Members Of Congress Appeal To SEC To Clarify Security Token Regulations
Summary: Members of Congress have written a letter asking the Securities and Exchange Commission to clarify who can custody security tokens. Representatives from the Congressional Blockchain Caucus led by Tom Emmer (R-MN) asked the Commission to verify rules surrounding which broker-dealers can custody digital securities. Broker-dealer licensing is required to sell securities in the U.S. The letter also addresses ...
Members of Congress have written a letter asking the Securities and Exchange Commission to clarify who can custody security tokens.
Representatives from the Congressional Blockchain Caucus led by Tom Emmer (R-MN) asked the Commission to verify rules surrounding which broker-dealers can custody digital securities. Broker-dealer licensing is required to sell securities in the U.S. The letter also addresses the Financial Industry Regulatory Authority (FINRA), a self-regulating body that registers U.S. broker-dealers under SEC guidelines. The current rules are unclear which leads to regulatory hold ups.
By Emily Mason
Tags: Blockchain,Congressional Blockchain Caucus,Security Tokens
Link: Members Of Congress Appeal To SEC To Clarify Security Token Regulations [Copy]
