The Financial Industry Regulatory Authority aims to enhance its resources to study and monitor cryptocurrencies as more of the Wall Street watchdog’s members trade digital assets, it says According to the Chief Executive Officer, Robert Cook.
Robert Cook further said the regulator is looking into whether it can do cross-market surveillance on various blockchains.
Bitcoin hit an 18-month low on Tuesday after major crypto lender Celsius Network froze withdrawals.
On Tuesday, Crypto exchange Coinbase Global Inc. said it will cut about 1,100 jobs, or 18% of its workforce, to ride out the downturn in the crypto sphere.
“We’re going to need to be engaged and prepared to have the resources to do that, so anybody who is getting laid off from a crypto platform and wants to work for FINRA, give me a call,” he said.
FINRA has several dozen members that have been approved to trade digital asset securities, as well as members that allow customers to access crypto products. The regulator is also developing digital asset verification techniques and is looking at whether it can do cross-market surveillance on various blockchains.