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SEC plans to review crypto trading brokers and transfer agents based on 2024 inspection guidelines

US Securities and Exchange Commission (SEC) released its 2024 examination priorities report on October 16th. The agency's examination division has been publishing similar reports for over a decade, informing its registrants about emerging risks that it will focus on, including cryptocurrency trading brokers. The report states that the SEC's examination division has expanded its capabilities and established teams in various programs to address cryptocurrency, fintech, artificial intelligence, and cybersecurity issues in 2023. It adds that the SEC continues to monitor broker-dealers and advisors engaged in cryptocurrency work, examining registrants' compliance with conduct standards in customer advice and their understanding of the products offered by registrants, as well as evaluating risk management related to the use of blockchain and distributed ledger technology.

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