World News: 12:42 GMT Friday 15th March 2019. [LDJ Capital via Globe Newswire via SPi World News]
NEW YORK, March 15, 2019 (GLOBE NEWSWIRE) -- Stronger calls for compliance and stricter implementation of regulations by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) for cryptocurrencies and blockchain are directed towards investors, startups, and companies this 2019.
“In 2019 there will be tremendous amount of financial supervision and implementation towards compliance with the SEC and FINRA,” Drake said. Active governance is the buzzword in 2019 and for the last 23 years LDJ Capital in New York City has become the compliance gateway between blockchain mavericks, alternative finance, and Wall Street.
SEC Commissioner Hester Peirce said in a recent speech that the SEC’s method of treating cryptocurrencies is too broad and called for the Congress to treat the digital assets as a separate class. “Token offerings do not always map perfectly onto traditional securities offerings,” Peirce added. “We owe it to investors to be careful, but we also owe it to them not to define their investment universe with our preferences.”
Last year, the SEC has conducted numerous investigations and found multiple crypto and blockchain startups as fraudulent or were involved in online scams. Having stricter regulations and assuring the compliance of the companies, investors, and startups to the standards will ensure the security of the consumers and will pave the way to a safe haven for blockchain companies and cryptocurrencies in the future.
“This year, the industry will focus on real businesses while Wall Street will adopt the technology under the guidance of the SEC and FINRA. My company is working with asset-backed companies globally which have produced an actual working product, ensuring legitimacy and credibility for illiquid assets like LP positions, REITs, trade finance and commodities, and mineral right reserves,” Drake noted.
A photo accompanying this announcement is available at
Globe Newswire: 12:42 GMT Friday 15th March 2019
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