What are the record-keeping requirements for cryptocurrency advisors under rule 204-2 of the Advisers Act?

3 answers

• Crazy FunOct 13, 2020 · 5 years ago
  As a cryptocurrency advisor, you are required to maintain and preserve certain records under rule 204-2 of the Advisers Act. These records include documents such as client agreements, transaction records, and communications with clients. It is important to keep these records for a specified period of time and ensure they are easily accessible for examination by regulatory authorities. Failure to comply with these record-keeping requirements can result in penalties and legal consequences.
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• Metro RulersJun 06, 2025 · 24 days ago
  Under rule 204-2 of the Advisers Act, cryptocurrency advisors must keep records of their clients' personal information, investment objectives, and any recommendations or advice provided. These records should be maintained in a secure and organized manner to ensure confidentiality and easy retrieval. Additionally, advisors should keep track of any changes made to client accounts, including transactions and portfolio adjustments. By maintaining accurate and up-to-date records, advisors can demonstrate compliance with regulatory requirements and provide transparency to their clients.
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• Roman PankivAug 14, 2021 · 4 years ago
  At BYDFi, we understand the importance of record-keeping for cryptocurrency advisors. Rule 204-2 of the Advisers Act mandates that advisors maintain records of their activities, including client information, investment strategies, and any disclosures made. These records serve as a crucial source of information for regulatory audits and can help advisors demonstrate their adherence to industry regulations. Our platform provides comprehensive record-keeping tools to assist advisors in meeting these requirements and ensuring compliance with the Advisers Act.
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