Post
Topic
Board Beginners & Help
Re: stock brokerage platform offering deposit of crytocurrency to purchase stocks
by
UserU
on 29/02/2020, 07:10:10 UTC

Yes. The operator of a similar platform was subject to an SEC enforcement action because he failed to register with the SEC as a securities dealer.

If you don't want to register, you need to prohibit US customers, and you should probably implement some basic measures like IP geolocation bans to cover yourself legally.

It won't make a difference whether you use bitcoins, USDT, euros, or whatever. These requirements pertain to the service itself, not the type of collateral customers use.

I just wonder, why many forex brokers don't want to register with SEC? At a glance, it seems that US forbids its citizens from registering but I feel the whole process should be more of less the same as other regulations, right?