FINRA’s 2025 oversight report details crypto-asset supervisory findings

What changed

FINRA’s 2025 report identified crypto-related failures and effective practices involving public communications, SIPC distinctions, private-placement diligence, AML monitoring, outside activities, and supervision of affiliates and associated persons.

Who it affects

• FINRA member firms, dual registrants, associated persons, investment advisers, and clients

What is still open

• How FINRA will apply the observations in individual examinations and enforcement matters

What it means for an advisor

• Test crypto communications, account and SIPC disclosures, private-placement diligence, AML monitoring, outside-activity questionnaires, and affiliate supervision.