NEW YORK (Reuters) - The Financial Industry Regulatory Authority plans to increase its resources to understand and monitor cryptocurrencies as more of the Wall Street watchdog's members trade digital assets, Chief Executive Officer Robert Cook said on Tuesday.
"We are already having to be engaged in the space and we think that as a result it's appropriate for us to bulk up our capabilities there," Cook said at a trading industry conference.
FINRA has several dozen members that have been approved to trade digital asset securities, as well as members who allow customers to access crypto products, and members with registered representatives who have outside business activities around crypto, Cook said.
The regulator is also developing digital asset verification techniques and is looking at whether it can do cross market surveillance on various blockchains, he said.
Cryptocurrencies prices have dropped sharply in recent weeks, with bitcoin hitting an 18-month low on Tuesday after major...
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