SEC’s Examination Priorities for 2024
The U.S. Securities and Exchange Commission (SEC) has released its examination priorities for 2024, which will focus on monitoring and examining the crypto market. The SEC aims to ensure that registrants meet the necessary standards of conduct when dealing with crypto assets. They will review compliance practices, risk disclosures, and operational resiliency practices related to crypto wallets, custody, BSA compliance, valuation procedures, data integrity, and business continuity plans.
Focus on Compliance and Emerging Risks
The SEC’s Division of Examinations will dedicate significant resources to examining issues in the crypto market. They will also target new or emerging risks, products, services, market events, and investor concerns. The goal is to protect investors from potential risks and ensure that market participants adhere to regulatory standards.
Hot Take: SEC Prioritizes Crypto Monitoring
The SEC’s examination priorities for 2024 highlight the increased focus on monitoring and regulating the crypto market. With the continued volatility and activity in this space, the SEC aims to protect investors and ensure compliance with regulatory standards. Market participants involved in offering, selling, trading, or advising on crypto assets will face scrutiny from the SEC. This prioritization reflects the growing importance of cryptocurrencies in the financial landscape and emphasizes the need for proper oversight and regulation.
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