The Financial Industry Regulatory Authority will increase its resources to understand and monitor cryptocurrencies, which chief executive Robert Cook said would include hiring laid-off cryptocurrency workers.
According to Cook, regardless of the federal agency in charge as the primary regulator for digital assets, FINRA will most likely play a role.
“We are already having to be engaged in the space, and we think that as a result, it’s appropriate for us to bulk up our capabilities there. We are going to need to he engaged and prepared to have the resources to do that, so anybody who is getting laid off from a crypto platform and wants to work for FINRA, give me a call,” Cook said.
FINRA is working on developing verification techniques for digital assets, and the regulator is also working on the possibility of cross-market surveillance on various blockchains.
FINRA, a private American company, operates as a self-regulatory organization (SRO) that regulates member brokerage firms and exchange markets. FINRA’s members have been authorized to trade digital asset securities.
The sources for this piece include an article in Reuters.
