The United States Securities and Exchange Commission is targeting investment advisors for potentially offering digital asset custody to its clients without meeting proper criteria.that the Commission is probing advisers’ efforts to follow the rules around custody of clients’ digital assets after the implosion of FTX.
The SEC does not have any licenses, but the advisers that custody such assets with a firm should be classified to be “qualified custodians.” The investment advisers alsoThe Commission has already doubled down and dedicated more resources to its crypto team – Crypto Assets and Cyber Unit – which was formerly known as the Cyber Unit.
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