You are CRO of Coincube, a large digital assets "exchange", that will now have to register with the SEC. 

Coincube offers trading of more than 40 digital/crypto assets. For instance, you can trade US Dollars for Bitcoin, Bitcoin for Tether, Bitcoin for Cardano, etc. For the account balances that you deposit in USD, Coincube offers a checking account option with an interest rate of 0.25% APY. Coincube will also allow you to transfer funds (in USD) to other banks in the US and overseas. 

Because of the multiple services that Coincube offers (custody, international transfer of funds, insured deposit accounts), the company will have to register as money transfer service with the US Treasury; as a bank with the Federal Reserve Board and the FDIC; and as an exchange under the SEC.

The SEC wants to start examining your financial statements, your risk models and your policies and procedures around the trading of assets such as Bitcoin, Cardano and Tether. 

 

What does the SEC seek to achieve with these visits?