What are the compliance requirements for cryptocurrency advisers under Advisers Act Rule 204-2?

3 answers

• Dec 17, 2021 · 3 years ago
  As a cryptocurrency adviser, it is crucial to comply with the regulations set forth by the Advisers Act Rule 204-2. This rule requires advisers to maintain accurate and up-to-date records of their business activities, including client communications, investment decisions, and financial transactions. Additionally, advisers must implement proper compliance policies and procedures to prevent any potential conflicts of interest and ensure fair treatment of clients. It is essential to regularly review and update these policies to stay in line with the evolving regulatory landscape.
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• Dec 17, 2021 · 3 years ago
  Cryptocurrency advisers must also provide clients with a disclosure document, commonly known as Form ADV, which includes information about the adviser's business practices, fees, and potential conflicts of interest. This document should be provided to clients at the beginning of the advisory relationship and updated annually. By being transparent and providing clients with the necessary information, advisers can build trust and maintain compliance with Advisers Act Rule 204-2.
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• Dec 17, 2021 · 3 years ago
  At BYDFi, we understand the importance of compliance for cryptocurrency advisers. Under Advisers Act Rule 204-2, advisers must keep records of all advertisements and marketing materials used to promote their services. These records should be retained for a specified period and made available for inspection by regulatory authorities upon request. By maintaining comprehensive records and adhering to the regulations, advisers can demonstrate their commitment to transparency and accountability.
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