US FINRA releases 2024 regulatory report, including crypto asset topics for the first time

The Financial Industry Regulatory Authority (FINRA) of the United States has released its annual regulatory and supervisory report for 2024, which includes a chapter specifically on cryptocurrency assets for the first time. FINRA is a self-regulatory organization in the United States responsible for regulating securities broker-dealers, and it is overseen by the Securities and Exchange Commission (SEC). Cryptocurrency asset development and advertising volume are new topics covered among the 26 topics. The report stated: "FINRA's Member Application Program (MAP) follows SEC guidance and evaluates a company's proposed cryptocurrency securities business line based on applicable rules, such as the SEC's financial responsibility rules and customer protection rules."