SEC Crypto Custody Proposal Draws Divisive Reactions
Action Required: Monitor the SEC rulemaking process for final guidance on crypto custody requirements before attempting to hold client assets.
The SEC has proposed new rules that could allow financial advisors to self-custody crypto assets under specific conditions, aiming to reduce regulatory uncertainty. While this development is primarily regulatory, it signals a potential shift in how advisors might integrate digital assets into their service offerings, though it does not directly involve AI technology.
Read full article at WealthManagement.comWant the full daily Briefing?
30 stories like this every day, with Action Required call-outs and direct lines to ask Aria — finsay's AI compliance assistant.
Try free for 14 daysRelated stories
- SEC Proposal Would Address How Investment Advisers and Funds Can Custody Crypto Assets Under the Federal Securities Laws
The SEC has proposed new rules to establish a formal framework for how registered investment advisers and funds must custody crypto assets. …
- SEC Censures, Fines Zoe Financial Over Alleged Conflicts of Interest
The SEC has censured and fined Zoe Financial, a digital platform connecting investors with financial advisors, for failing to disclose confl…
- Wall Street Regulator Moves to Expand Access to Private Funds
The SEC has proposed a rule change that would allow registered investment advisors (RIAs) to charge performance-based fees of up to 20% for …