Official government announcements or legal publications

FINRA Report Mandates Compliance for Brokers in Metaverse Activities Amid Regulatory Challenges

Oct 27, 2024, 10:30 AM

The Financial Industry Regulatory Authority (FINRA) has released a report emphasizing that brokers and dealers involved in metaverse activities must adhere to existing financial regulations. This guidance applies to firms exploring the metaverse, reminding them that traditional regulatory rules continue to govern their operations. The report outlines various use cases for metaverse engagement, highlighting the importance of compliance as firms navigate the challenges associated with adopting these new technologies. FINRA's warning comes amid an ongoing discussion about the implications of cryptocurrency and digital assets, particularly in relation to their regulation and market influence.