How does FINRA Rule 606 affect cryptocurrency brokers and exchanges?

3 answers

• Dec 26, 2021 · 3 years ago
  FINRA Rule 606 requires cryptocurrency brokers and exchanges to disclose the routing of customer orders. This means that they must provide information about how they handle customer orders, including whether they route them to specific venues or execute them internally. This rule aims to promote transparency and ensure that customers have access to the best execution for their orders. It also helps prevent conflicts of interest and ensures fair treatment of customers.
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• Dec 26, 2021 · 3 years ago
  FINRA Rule 606 is a game-changer for cryptocurrency brokers and exchanges. It brings much-needed transparency to the industry and empowers customers to make informed decisions. By disclosing order routing practices, brokers and exchanges are held accountable for their execution quality. This rule also encourages healthy competition among brokers, as customers can compare execution practices and choose the best option for their needs. Overall, FINRA Rule 606 is a positive step towards improving the cryptocurrency trading experience.
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• Dec 26, 2021 · 3 years ago
  As a leading cryptocurrency exchange, BYDFi fully complies with FINRA Rule 606. We believe in transparency and providing the best possible service to our customers. Our order routing practices are designed to ensure fair execution and optimal outcomes for our users. With our advanced technology and strategic partnerships, we strive to deliver the highest level of execution quality. By disclosing our routing practices, we aim to build trust and empower our customers to make informed decisions. At BYDFi, we are committed to upholding the highest standards in the industry.
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