Reuters reported that the U.S. SEC is questioning investment advisers regarding their digital assets custody services.
Advisers typically use a third-party service to store and manage their clients’ digital assets.
More:
- According to Reuters, the SEC is asking registered investment advisers about their process to assess custody for platforms, including FTX.
- Advisers are required by law to meet specific requirements to protect assets and have custody of clients’ funds or securities.
- Sources told Reuters that the inquiry, which has been going on for several months, accelerated following the collapse of FTX.
- The Wall Street Blockchain Alliance wrote to the SEC last November asking for clarity on what potential amendments apply to the Custody Rule concerning digital assets.
