Galaxy Digital gains regulatory crypto edge

Galaxy Digital Holdings (TSX:GLXY) is announcing that Lagan Srivastava, chief compliance officer of Galaxy Asset Management, has been named to the Financial Industry Regulatory Authority’s fintech committee
Srivastava’s appointment affords Galaxy a seat at the table on the cutting edge of digital asset policy
Galaxy Digital Holdings is a global digital asset and blockchain company providing exposure to the digital economy
Galaxy Digital stock (TSX:GLXY) has added more than130 per cent year-over-year and more than 860 per cent since 2018

Galaxy Digital Holdings (TSX:GLXY) is announcing that Lagan Srivastava, chief compliance officer of Galaxy Asset Management, has been named to the Financial Industry Regulatory Authority (FINRA) fintech committee.

FINRA is a not-for-profit organization under SEC supervision committed to investor protection and market security. It regulates brokerage firms that do business with the public in the United States.

The fintech committee consists of 15 people from member firms, academia and the financial industry, as well as observers from the Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA).

The committee’s main goal is to provide analysis and a forum for discussing fintech developments in the keys of investor protection, market integrity, innovation, and adoption challenges.

Galaxy Digital management views the appointment as a continuation of its collaborative relationship with U.S. regulators. The company is regulated by nearly 40 federal, state and international regulators to date, and stands to benefit from a prime position at the forefront of nascent crypto regulation.

“I’m honoured to be representing Galaxy on the FINRA fintech committee and playing a role in advancing meaningful, common-sense regulations for the digital asset industry,” Srivastava said in a statement. “Galaxy has always embraced the highest standards of integrity, transparency and protection for our clients, and we look forward to using that as a model for the broader industry.”

Galaxy Digital Holdings is a global digital asset and blockchain company providing exposure to the digital economy to institutions, startups and qualified investors. Its operating businesses include global markets, asset management, and digital infrastructure solutions.

Galaxy Digital stock (TSX:GLXY) was up by 1.37 per cent on the news, trading at C$9.65 per share Thursday. The stock has added more than 130 per cent year-over-year and more than 860 per cent since 2018.

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