SEC wants all investment advisors’ crypto held by qualified custodians
The SEC wants investment advisors to hold all crypto assets with a qualified custodian but some have questioned the regulator’s authority.
Cryptocurrency news by Protos · Protos
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Show Notes
The Securities and Exchange Commission (SEC) has proposed a new rule requiring investment advisors to hold all crypto assets — even non-security crypto assets like bitcoin — with a qualified custodian. Not only will the rule require enhanced bookkeeping and reporting if it goes into effect, but it will centralize large quantities of crypto assets at large companies.
Listen to this article to learn how this might impact the safety of your crypto if a custodian goes bankrupt.
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