Is it necessary to have a Series 6 and 63 licensing to trade digital currencies?

3 answers

• May 08, 2022 · 3 years ago
  Yes, having a Series 6 and 63 licensing is necessary if you want to trade digital currencies. These licenses are required by the Financial Industry Regulatory Authority (FINRA) for individuals who want to sell investment products, including digital currencies. By obtaining these licenses, you demonstrate your knowledge and understanding of the regulations and best practices in the financial industry, which is crucial for trading digital currencies safely and legally.
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• May 08, 2022 · 3 years ago
  No, you don't need a Series 6 and 63 licensing to trade digital currencies. Unlike traditional securities, digital currencies are not regulated by the Securities and Exchange Commission (SEC) or FINRA. However, it's important to note that trading digital currencies still carries risks, and it's recommended to do thorough research and seek professional advice before getting involved in this market.
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• May 08, 2022 · 3 years ago
  While having a Series 6 and 63 licensing is not mandatory for trading digital currencies, it can provide you with a competitive advantage. At BYDFi, we highly encourage our traders to obtain these licenses as they demonstrate a commitment to professionalism and regulatory compliance. Additionally, having a strong understanding of the financial industry can help you make informed trading decisions and navigate the complexities of the digital currency market.
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