Crypto brokers and investment advisors who provide or provide advice on cryptocurrencies will be placed under the scope of US securities watch this year.

A Feb. 7 statement from the SEC’s examining division outlined its priorities for 2023, suggesting that brokers and advisors dealing in cryptocurrencies will need to exercise more caution when offering, selling, or making recommendations on digital assets.

She stated that SEC-registered brokers and advisors will be closely monitored to see if they follow their “standards of care” when making recommendations, referrals, and investment advice.

The SEC will also consider whether these entities “routinely” review and update their procedures to ensure they meet their “compliance, disclosure and risk management practices.”

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This announcement was similar to the SEC’s priorities made in 2022, however, this year the regulator appears to be placing more emphasis on standards of care and practices by brokers rather than on the unique risks presented by “emerging financial technologies” highlighted in the 2022.

The latest statement comes nearly two weeks after a report alleged that the SEC was investigating registered investment advisors who may offer digital asset custody to their clients without the proper qualifications.

Related: SEC Leaks Crypto Miners’ Personal Information During Investigation: Report

The SEC investigation has reportedly been going on for several months, but is now high on the priority list after the collapse of cryptocurrency exchange FTX, according to a report from Reuters.

By law, investment advisory firms must be qualified to provide custody services to clients and comply with the custody safeguards set out in the Investment Advisers Act 1940.