Objective of Financial Innovation and Technology for the 21st Century Act is to provide consumer protection by establishing disclosure, registration and asset separation requirements

Claim

Name

Objective of Financial Innovation and Technology for the 21st Century Act is to provide consumer protection by establishing disclosure, registration and asset separation requirements

Types

Quotes that support the claim

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.

FIT21 provides the robust, time-tested consumer protections

Sources

House Passes Financial Innovation and Technology for the 21st Century Act with Overwhelming Bipartisan Support

Topics

Objectives of Financial Innovation and Technology for the 21st Century Act (FIT21)

Referenced by

FIT21 provides the robust, time-tested consumer protections

Crypto

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.

Crypto