OTC Markets is positioning itself as a compliant player in the cryptocurrency industry. The company, which is well-known for trading penny stocks and securities outside of the major exchanges, is taking a proactive approach to work within the United States Securities and Exchange Commission (SEC) regulatory framework. In an interview, Cass Sanford, deputy general counsel at OTC Markets, stated that the company is “actually trying to do things under what the SEC has put out there so far, as opposed to pushing back, saying we don’t fit under these rules.” This approach is noteworthy, as many companies in the cryptocurrency industry have struggled to keep pace with evolving regulations, leading to enforcement actions by the SEC and other regulators.
OTC Markets’ commitment to regulatory compliance is especially noteworthy given the challenges faced by companies operating outside of traditional financial institutions. These challenges include limited access to banking services, limited options for fundraising and investment, and difficulty meeting compliance requirements due to varying local and national regulations. However, companies like OTC Markets are paving the way for others in the industry to operate within the framework of established regulations.
As Sanford points out, cryptocurrency companies that want to operate within the established regulatory framework must be proactive in understanding and complying with the rules. This sentiment is echoed by other industry experts, who believe that complying with regulations will ultimately help cryptocurrency companies to build trust with investors and gain wider acceptance.
It is encouraging to see companies like OTC Markets leading the way in regulatory compliance. As the cryptocurrency industry continues to evolve and mature, it will be important for companies to work proactively within the established regulatory framework. This will benefit not only the companies themselves, but also investors and consumers who will benefit from increased security and stability in the marketplace.
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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