According to a Bloomberg report citing sources, tomorrow the SEC is planning to publish a proposal to make it tougher for crypto firms to take on the role of ‘qualified custodians’.
A 2013 SEC rule requires SEC-registered investment advisors to use qualified custodians, which include “banks, registered broker-dealers, futures commission merchants, or certain foreign entities.” Hedge funds, private equity firms and pension funds may find custody trickier.
Reports surfaced in January that the SEC was asking investment advisers about custody of digital assets.
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