Washington is opening the door a crack for cryptocurrency startups that want to disrupt some of Wall Street’s traditional businesses. The Securities and Exchange Commission said Monday that firms hoping to adapt bitcoin’s technology to uses such as raising capital for private companies could satisfy regulators’ concerns. That means a limited number of crypto firms could be approved as digital-asset brokers in the near future. But...
US cryptocurrency start-ups offering non-custodial services could soon be granted brokerage licences, according to a statement from the SEC and the Financial Industry Regulatory Authority. The move is part of an effort by regulators in Washington DC to crack down on so-called “money transmitters” that are not subject to anti-money-laundering (AML) regulations.