Please don’t skip this message — it only takes a minutes to read. Sorry to bother you, but time is running out.

Bitcoin is freedom. If you think independent, ‘bitcoin-only’ media is important, if you believe information and education about bitcoin matters for adoption, and if you have gained something from our work, we would be grateful if you could chip in $21. 

Join the 2% of our readers who occasionally make a donation. If everyone reading this donated just $21, we would reach our target in a couple of hours. $21 is all we ask for. To cover the cost for our servers, editors, writers, and thumbnail artists we rely on our readers’ generous support. 

How You can chip in:

  • Send sats as a tip to a writer. All of our writers have an active tipping widget.
  • Join our campaign on 
    Awesome perks are waiting for you such as the limited edition Bukele Blend Coffee from El Salvador.

Your support ensures that Bitcoin News stays independent with a laser focus on Bitcoin and only Bitcoin.


FINRA Fines Individual for Unreported Crypto Mining

Support free writers: > send a tip

written by

A former employee of Merril Lynch was fined USD 5,000 by the Financial Industry Regulatory Authority (FINRA) when it was observed that the employee’s crypto mining activities did not conform with associated rules.

Kyung Soo Kim, the fined employee signed a letter of acceptance, waiver and consent. This is in accordance with the documents signed on 10 June:

“FINRA Rule 2010 requires associated persons to observe high standards of commercial honor and just and equitable principles of trade.”

Kim was fined as he failed to inform FINRA about his setting up of separate ventures for mining while he was still employed in December 2017. Along with the fine, Kim will also be barred from associating with any FINRA firms for the duration of one month.

FINRA’s slightly ambiguous rule on professional conduct provided it with further grounds to penalize Kim.

This move clearly sends the message that the local crypto miners need to be cautious. What may seem insignificant, can get the attention of the US regulators, which would force them to face similar (if not worse) consequences. However, there is still ambiguity as to whether or not FINRA will continue its pursuit of catching the perpetrators.

As reported earlier, the vagueness of crypto terminology standards hinders a global regulatory response for most jurisdictions. The Securities and Exchange Commission (SEC) in collaboration with FINRA is planning to hold National Compliance Outreach Program for Broker-Dealers on June 27, 2019. The program is designed to analyze the current regulatory risks in the market and promote an effective compliance structure for the protection of investors from the same.


BitcoinNews is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews:

Image Courtesy: Pixabay

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


bitcoin shop miami

Read More Bitcoin News

Hayek And Bitcoin

Hayek and Bitcoin

Hayek passed long before Bitcoin’s inception, but in his book The Denationalisation of Money, he argued for nothing short of stripping the state of its monopoly power of money itself.

Read More »


bitcoin shop miami

Join our Newsletter

Video of the Week


Latest on Bitcoin News

Join our Newsletter