SEC Broker-Dealer Enforcements Against Crypto Market-Makers: Summary and Implications

Written by: Aaron Krowne, Esq. The U.S. Securities and Exchange Commission (SEC) has been cracking down in recent years on crypto market-makers for allegedly operating as unregistered broker-dealers—firms that execute trades, facilitate transactions, or provide liquidity for others. Many assumed they were exempt from traditional broker-dealer rules due to regulatory uncertainty. However, as the market […]