The Securities and Exchange Commission (SEC) confirmed that transfer agents may now use distributed ledgers as their official shareholder records, while warning that crypto assets held at broker dealers lack the customer protections typically associated with securities accounts. The guidance, issued 18 December addresses regulatory treatment of crypto asset securities trading platforms, custody arrangements and clearing practices.
The FAQ accompanies a statement by Commissioner Hester Peirce outlining an extensive list of questions for the agency’s Crypto Task Force regarding potential reforms to alternative trading system (ATS) regulation.
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