SEC Clarifies Crypto Custody Rules for Broker-Dealers and Institutional Investors
TL;DR Summary
The SEC staff issued a statement clarifying how broker-dealers can demonstrate possession of crypto asset securities under Rule 15c3-3, emphasizing measures like access, assessment of blockchain technology, security protocols, and contingency planning to ensure custody and control, while noting that this guidance does not create new legal obligations.
Topics:business#broker-dealers#crypto-assets#custody#distributed-ledger-technology#finance#securities-laws
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