Is the FINRA Individual Central Registration Depository required for cryptocurrency brokers?

3 answers

• Nov 28, 2021 · 3 years ago
  The FINRA Individual Central Registration Depository (CRD) is a database that contains information about individuals and firms involved in the securities industry. While the CRD is primarily used for traditional securities brokers, it is not mandatory for cryptocurrency brokers to be registered with the CRD. Cryptocurrency brokers operate in a different regulatory environment and are subject to different rules and requirements.
  431216
• Nov 28, 2021 · 3 years ago
  No, cryptocurrency brokers are not required to be registered with the FINRA Individual Central Registration Depository (CRD). The CRD is specific to the securities industry and does not apply to the cryptocurrency industry. However, cryptocurrency brokers may be subject to other regulatory requirements depending on the jurisdiction in which they operate.
  356119
• Nov 28, 2021 · 3 years ago
  As a representative of BYDFi, a cryptocurrency exchange, I can confirm that cryptocurrency brokers are not required to be registered with the FINRA Individual Central Registration Depository (CRD). The CRD is primarily for traditional securities brokers and does not apply to the cryptocurrency industry. However, cryptocurrency brokers still need to comply with other regulatory requirements to ensure the safety and security of their operations.
  447112