{"id":260007,"date":"2021-05-27T03:39:42","date_gmt":"2021-05-27T00:39:42","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nfts-getting-a-closer-look-from-finra\/"},"modified":"2021-05-27T03:39:42","modified_gmt":"2021-05-27T00:39:42","slug":"nfts-getting-a-closer-look-from-finra","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nfts-getting-a-closer-look-from-finra\/","title":{"rendered":"#NFTs getting a closer look from FINRA"},"content":{"rendered":"

“#NFTs getting a closer look from FINRA<\/strong>”<\/p>\n

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How hot is the NFT craze? It\u2019s so hot that even Finra is trying to wrap its head around it.<\/p>\n

The Financial Industry Regulatory Authority \u2014 the non-government group that licenses broker dealers and accordingly polices it for infractions \u2014 is \u201ctaking a deep dive to understand NFTs and the implication for the regulation of broker dealers,\u201d according to a source close to the group.<\/p>\n

That includes \u201ceducating examiners what to look for from an examination standpoint,\u201d according to the source, who notes that Finra is expediting things because so many retail investors have gotten into so-called non-fungible tokens in the span of a few months.<\/p>\n

On Wednesday, Game<\/a>stop became the latest to jump on the bandwagon with a cryptic announcement that it\u2019s \u201cbuilding a team\u201d for an NFT project. After an NFT from artist \u201cBeeple\u201d scored $69 million in March, a slew of NFTs have sold for eye-popping prices, including Twitter<\/a> co-founder Jack Dorsey\u2019s first tweet, which went for $3 million later that month. <\/p>\n

\"An
An NFT of Twitter co-founder Jack Dorsey\u2019s first tweet went for $3 million. <\/figcaption>
REUTERS<\/span><\/figcaption><\/figure>\n

As it grapp<\/a>les with all of this, Finra may face an uphill climb. A source who has worked closely with Finra on cryptocurrency recalls meetings that turned into Q&A sessions where regulators asked rudimentary questions like \u201cWhat is bitcoin mining?\u201d and \u201cWhat is a crypto exchange?\u201d<\/p>\n

If and when Finra does start policing NFTs, don\u2019t expect anything too draconian. \u201cThey\u2019re never going to be the toughest cop on the beat since they\u2019re made up of industry people,\u201d a former regulator adds.<\/p>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#NFTs getting a closer look from FINRA” How hot is the NFT craze? It\u2019s so hot that even Finra is trying to wrap its head around it. The Financial Industry Regulatory Authority \u2014 the non-government group that licenses broker dealers and accordingly polices it for infractions \u2014 is \u201ctaking a deep dive to understand NFTs…<\/p>\n","protected":false},"author":1,"featured_media":260008,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/05\/NFT_display.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[75159,107329,106544],"class_list":["post-260007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-digital-currency","tag-5-26-21","tag-on-the-money"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/260007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=260007"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/260007\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/260008"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=260007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=260007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=260007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}