SEC votes to advance rule tightening crypto custody requirements
Name
SEC votes to advance rule tightening crypto custody requirements
Publish date
12:00am, Wednesday, February 15, 2023
Referenced by
The proposed rule would expand the current custody rule to include any client assets that an adviser has custody over and would also add more protections to those assets such as surprise examinations
Crypto news
Quote
Gensler also warned that depending on how crypto platforms operate, investment advisers cannot rely on them as qualified custodians. An SEC official said some investment advisers do rely on crypto platforms as custodians.
Crypto news
Quote
Registered investment advisers are subject to a custody rule, which requires them to maintain those assets with a qualified custodian, such as a bank or broker-dealer.
Crypto news
Quote