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FINRA sees deepening connections to crypto

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The U.S. Financial Industry Regulatory Authority Inc. (FINRA) has issued a guidance note revealing that nearly 400 brokerage firms in the U.S. are involved in the crypto sector in some capacity. This includes firms with active crypto businesses, those planning to launch crypto ventures, and firms partnering or affiliating with crypto entities. Additionally, firms that have representatives engaging in outside business activities or private securities transactions involving cryptoassets are included in this count.

Key Points from FINRA’s Guidance:

– Scope of Involvement: The firms’ crypto activities range from handling private placements, operating trading platforms, to providing custody services for cryptoassets.

– Indirect Involvement: Much of the crypto activities are conducted indirectly through firms’ affiliates or parent companies rather than directly by the brokerage firms themselves.

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– Regulatory Jurisdiction: FINRA clarified that while it has jurisdiction over its member firms and associated individuals, it does not have authority over affiliates or parent companies not registered with FINRA.

– Compliance with Laws and Rules: Member firms and representatives dealing in cryptoassets classified as securities must adhere to existing securities laws and FINRA regulations. Certain FINRA rules also apply to cryptoassets that are not classified as securities.

– Challenges and Violations: FINRA identified challenges among member firms in complying with supervisory and marketing rules, including potential violations related to due diligence, misrepresentation of investor protections, anti-money laundering, trading rules, and record-keeping.

– Market Abuse Concerns: The regulator has flagged potential market abuses, such as pump-and-dump schemes, exploiting investor interest in cryptoassets and blockchain technology.

– Survey and Analysis: The guidance is based on a survey of 600 firms and ongoing supervisory activities, aiming to better understand the industry’s exposure to crypto-related stress events.

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Greg Ruppert, FINRA’s executive vice president and head of member supervision, emphasized that as the crypto landscape evolves, FINRA remains focused on how member firms engage in crypto activities and how the regulator can adapt to protect investors and markets effectively while supporting its member firms.

Source: unvestmentexecutive.com

The post FINRA sees deepening connections to crypto appeared first on HIPTHER Alerts.

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Everdome and Alpine Web3 Redefine Fan Engagement with Bold Metaverse Vision

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Alpine Web3 and Everdome are joining forces to push the boundaries of fan engagement through immersive digital experiences. Building on Alpine’s storied motorsport legacy, this partnership will bring fans closer to the action with metaverse pop-up spaces and interactive events.

As Alpine Web3 shifts its focus beyond motorsport, this collaboration aims to redefine sports marketing by merging the physical and digital worlds, offering fans a dynamic and innovative way to connect with their favorite teams and events.

Alpine is a brand with a long and successful history, founded in 1955 by Jean Rédélé and quickly building success across multiple motorsports disciplines. With titles across multiple motor racing disciplines such as the World Rally Championship, 24 Hours of Le Mans, success in F1® racing and the FIA WEC Endurance World Championship, Alpine has constantly innovated for success.

Now Alpine seeks to expand their innovation beyond motorsport, looking for ways to engage new audiences with experiential sports marketing as the real and digital worlds converge.

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This two-way partnership will see Everdome work on a variety of experiential Alpine focussed destinations, kicking off with a series of metaverse pop-up spaces for Alpine Web3, released to coincide with the major sporting events across their race calendar, from Formula One® and beyond.

Everdome will also create interactive events with Alpine Web3 and their partners, allowing global audiences to take one step closer to the action as we explore the future of sports fan engagement together.

Last year, Everdome and Alpine first collaborated with an exclusive metaverse AMA with their F1® driver Pierre Gasly and Binance Fan Token, creating an interactive event where the audience could join with their avatar-likenesses inside a unique environment, bringing them closer to their racing heroes inside a digital world.

“Experiential marketing is on the rise as audiences react positively to immersive, interactive experiences which bring a feeling of deeper involvement with their sporting teams and heroes.’’ said Artur Kaczmarczyk, Chief Growth Officer for Everdome. “This new partnership will explore a future of sports fan engagement, creating a series of activations across the motorsports racing calendar to let global Alpine fans feel closer to the team, drivers and brand.’’

Beginning with metaverse spaces highlighting images and videos from Alpine inside fully interactive, avatar-led digital environments, Everdome will go on to create a dedicated and permanent metaverse footprint for Alpine Racing inside their digital headquarters, showcasing their glorious history, exciting present and promising future.

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“This collaboration with Everdome underlines our commitment to constant innovation through leveraging the latest technology”, said Guillaume Vergnas, Head of Merchandising, Licensing, Esports & Web3 at Alpine. ‘’Motorsport has always been about passion, spectacle and interaction, and with Everdome we seek to allow audiences a taste of the spectacle in a novel digital world.’’

Everdome will introduce their large community of web3 followers and metaverse pioneers to Alpine’s exciting web3 ecosystem, paving the way for some exciting cross-project collaborations, activations and more across 2024 and beyond.

The post Everdome and Alpine Web3 Redefine Fan Engagement with Bold Metaverse Vision appeared first on HIPTHER Alerts.

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Blockchain

Blockchain Technology Market Size to Achieve USD 1,879.30 Billion by 2034

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Blockchain

Blockchain Technology in BFSI Market Is Expected To Reach a Revenue Of USD 258.2 Bn By 2033, at 46.0% CAGR: Dimension Market Research

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