Concerns that over-regulation can stifle innovation and hinder the growth of Web3 are valid. But proper rules and laws can equally save and supercharge crypto. sponsored by Chainalysis. Anne-Sophie Cissey is the head of legal and compliance at Flowdesk, a Paris-based marketing-making technology company.
This innovation came during the backdrop of intense anti-terrorism and money laundering litigation as mandated by thethat sought to guarantee greater security for American citizens. The regulation changed PayPal. It obligated the company to provide a robust means through which it could prove that it properly vets its customers — while providing users with easy access to finance.
FINRA Rule 5310 requires broker-dealers to exercise"reasonable diligence" to ensure their customers receive the best execution when conducting trades. Robinhood has in the past been criticized for not providing sufficient risk disclosures, particularly regarding options trading. The company had been accused of encouraging inexperienced investors to engage in risky trading strategies without adequately disclosing the potential downsides.
There are many compelling Web2 examples where regulation played a crucial role in strengthening the industry’s foundations.Regulation has encouraged greater ease of use by enforcing a higher level of base-customer protection.
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