What are the reporting requirements for cryptocurrency platforms under FINRA Rule 606?

5 answers

• Dec 25, 2021 · 3 years ago
  Cryptocurrency platforms are required to comply with the reporting requirements outlined in FINRA Rule 606. This rule mandates that platforms must provide detailed information about their order routing practices and execution quality to their customers upon request. The information that needs to be reported includes the identity of the venues to which the platform routes orders, the terms of any payment for order flow arrangements, and the platform's policies regarding the use of external routing venues. The reporting must be done on a quarterly basis.
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• Dec 25, 2021 · 3 years ago
  Under FINRA Rule 606, cryptocurrency platforms are obligated to disclose information about their order routing practices and execution quality. This includes providing details about the venues to which they route orders, any payment for order flow arrangements, and their policies on external routing venues. The reporting must be done quarterly and is aimed at ensuring transparency and accountability in the cryptocurrency market.
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• Dec 25, 2021 · 3 years ago
  As an expert in the field, I can tell you that cryptocurrency platforms are required to follow the reporting requirements set forth by FINRA Rule 606. This rule ensures that platforms provide customers with information about their order routing practices, including details about the venues to which orders are routed and any payment for order flow arrangements. The reporting must be done on a quarterly basis to ensure transparency and fairness in the cryptocurrency market.
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• Dec 25, 2021 · 3 years ago
  FINRA Rule 606 imposes reporting requirements on cryptocurrency platforms, aiming to promote transparency and protect investors. These platforms are required to disclose information about their order routing practices, including the identity of the venues to which orders are routed, any payment for order flow arrangements, and their policies on external routing venues. The reporting must be done quarterly to ensure that customers have access to important information about the platform's operations.
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• Dec 25, 2021 · 3 years ago
  BYDFi, as a leading cryptocurrency platform, adheres to the reporting requirements outlined in FINRA Rule 606. We provide our customers with detailed information about our order routing practices, including the venues to which we route orders and any payment for order flow arrangements. Our reporting is done on a quarterly basis to ensure transparency and accountability in the cryptocurrency market.
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