SEC custody rule change threatens crypto firms
The SEC is proposing a change to custody requirements for investment advisors that threaten their ability to engage with cryptocurrency.
Cryptocurrency news by Protos · Protos
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Show Notes
The Securities and Exchange Commission (SEC) is proposing a modification to the custody rule for investment advisors holding client assets that would reduce choices for advisors managing cryptocurrencies.
The rule expands the requirements to all client assets, rather than just securities and funds. This would require all adviser-held assets to sit with a qualified custodian — generally, a bank, trust company, broker-dealer, futures commission merchant, or some foreign financial institutions.
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