FIT21 will protect consumers by strengthening transparency and accountability with market participants: Digital asset developers will be required to provide accurate, relevant disclosures, including information relating to the digital asset project’s operation, ownership, and structure; and Digital asset customer-serving institutions, like exchanges, brokers, and dealers will be required to: Provide appropriate disclosures to customers; Segregate customer funds from their own; and Reduce conflicts of interest through registration, disclosure, and operational requirements.
Referenced by
House Passes Financial Innovation and Technology for the 21st Century Act with Overwhelming Bipartisan Support
Crypto
Press release
Objective of Financial Innovation and Technology for the 21st Century Act is to provide consumer protection by establishing disclosure, registration and asset separation requirements
Crypto
Claim