“Certain products are more complex or have additional risk features, which may make it more difficult for firms and their financial professionals to develop an understanding,” according to the SEC guidance, and “crypto asset securities” are among the examples provided. So when brokers or advisers talk to customers about crypto, the advisers must ensure those they’re advising understand the products and whether crypto offerings make sense for clients’ specific financial situations, according to the bulletin, which represents the staff’s view on existing regulations and isn’t a new rule.