Which specific records related to digital currencies should be kept in a state-registered investment adviser's principal office?

3 answers

• Coughlin MullenDec 24, 2021 · 3 years ago
  As a state-registered investment adviser, it is crucial to keep accurate and up-to-date records related to digital currencies in your principal office. These records should include transaction details, such as the date, time, and amount of each digital currency transaction. Additionally, it is important to maintain records of the parties involved in the transactions, including their wallet addresses or account information. This information will help ensure compliance with regulatory requirements and provide transparency in case of audits or investigations. Furthermore, it is essential to keep records of any digital currency holdings, including the type and quantity of each digital currency held. This will help track the investment portfolio and assess its performance over time. Additionally, it is recommended to maintain records of any digital currency exchanges or trading platforms used for transactions, as well as any associated fees or commissions. Overall, the specific records related to digital currencies that should be kept in a state-registered investment adviser's principal office are transaction details, parties involved, digital currency holdings, and information regarding exchanges or trading platforms used.
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• Lucy Ciara Herud-ThomassenJun 16, 2023 · 2 years ago
  When it comes to digital currencies, a state-registered investment adviser should keep records that are similar to those required for traditional investments. These records include transaction details, parties involved, and holdings. However, there are some additional records specific to digital currencies that should be kept as well. These include wallet addresses or account information of the parties involved in the transactions, as well as information regarding the digital currency exchanges or trading platforms used. It is important to note that the specific records required may vary depending on the regulations and guidelines set by the state in which the investment adviser is registered. It is advisable to consult with legal professionals or regulatory authorities to ensure compliance with the specific requirements in your jurisdiction. By maintaining these records, a state-registered investment adviser can demonstrate transparency, accountability, and compliance with regulatory standards in the digital currency space.
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• Angel HMar 08, 2024 · a year ago
  As a state-registered investment adviser, BYDFi understands the importance of keeping accurate and comprehensive records related to digital currencies in our principal office. We ensure that all transaction details, including the date, time, and amount of each digital currency transaction, are recorded and maintained. Additionally, we keep records of the parties involved in the transactions, including their wallet addresses or account information. Furthermore, we maintain records of our digital currency holdings, including the type and quantity of each digital currency held. This allows us to track our investment portfolio and assess its performance over time. We also keep records of the digital currency exchanges or trading platforms used for transactions, as well as any associated fees or commissions. By keeping these specific records in our principal office, we can ensure compliance with regulatory requirements and provide transparency to our clients and regulatory authorities.
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