Federal Regulatory & Legislative Updates
State Trust Companies and Crypto Assets
The SEC plans to permit registered funds and advisers to use state trust companies to custody crypto assets. The SEC released a letter stating that it “would not recommend enforcement action to the Commission…
The SEC plans to permit registered funds and advisers to use state trust companies to custody crypto assets. The SEC released a letter stating that it “would not recommend enforcement action to the Commission under the Custody Provisions against a Registered Adviser or Regulated Fund for treating a State Trust Company as a ‘bank’ with respect to the placement and maintenance of Crypto Assets and Related Cash and/or Cash Equivalents.”
Author: sdbrownlow
Student of Design