CoinReg Tech proposes to the US SEC Cryptocurrency Working Group to revise the Exchange Act rules and other regulatory recommendations
CoinReg Tech, a regulatory technology provider in the digital asset market, submitted regulatory suggestions to its cryptocurrency working group in its response to the U.S. Securities and Exchange Commission, including:
1. It should be made clear that digital asset securities trading (whether "on-chain" or "off-chain") should follow the same trading reporting requirements as standard securities.
2. It should address the investor protection and market structure issues associated with digital asset securities facilitated by on-chain/off-chain trading on trading platforms.
3. It should revise the rules of the "Trading Act" to require timely reporting of all transactions deemed as digital asset securities.
4. It should jointly authorize and regulate digital asset trading repositories ("DART") with the CFTC to record transactions (including those submitted to public ledgers and off-chain transactions) and related customer ownership, regardless of whether digital assets are classified as "securities" or "commodities".
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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