The U.S. Securities and Exchange Commission (SEC) issued on December 23 a statement and request for comment regarding the custody of digital asset securities by broker-dealers.
The SEC is taking the position that, for a period of five years, a broker-dealer operating under certain specified conditions will not be subject to SEC enforcement action “on the basis that the broker-dealer deems itself to have obtained and maintained physical possession or control of customer fully paid and excess margin digital asset securities.”
The regulator expects that this moratorium on such enforcement actions . . .
Continue Reading
Unlock this article instantly, along with the rest of our premium content and daily, weekly and monthly newsletters. We offer pay-as-you-go monthly subscriptions and discounted annual subscriptions with additional benefits: access to Alternatives Watch Research articles and our Annual Investor Compendium.
