BROKER-DEALER -

SEC Releases Statement on Platforms Trading Digital Assets -

On March 7, the Securities and Exchange Commission released an advisory regarding platforms used to trade digital assets. The SEC expressed concern that, in light of the rise in popularity of trading digital assets, including coins and tokens in initial coin offerings, investors could mistakenly believe that platforms used to trade such assets are registered with the SEC or are otherwise regulated. In order to protect investors, the SEC indicated that it plans to focus on such platforms and their compliance with federal securities laws.