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SEC's New Guidance Opens Path for State Trust Crypto Custodians

1 min read
Source: SEC.gov
TL;DR

The Division of Investment Management clarified that, under specific conditions, a State Trust Company can be treated as a 'bank' for custody of Crypto Assets and related cash or equivalents, provided it meets certain regulatory and operational standards, and the investment adviser or fund conducts due diligence and maintains proper agreements and disclosures.

Topics:businessfinance#crypto-assets#custody-services#finance#investment-advisers#regulatory-compliance#state-trust-companies
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  1. Simpson Thacher & Bartlett LLP  SEC.gov
  2. SEC opens the door for investment advisers to use state trusts as crypto custodians  theblock.co
  3. U.S. SEC Takes Preliminary Step to Expand Universe of Crypto Custody to State Trusts  CoinDesk
  4. SEC No-Action Letter Creates Opening for More Firms to Serve as Crypto Custodians  Yahoo Finance
  5. Ripple and Coinbase to qualify as crypto custodians under new SEC staff guidance  CryptoSlate

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