02.16.23

SEC Proposes Rule That Could Squeeze Crypto Platforms

by: Paul Kiernan; Justin Baer

The U.S. Securities and Exchange Commission approved a proposal that would expand the types of assets that investment advisors are required to hold using qualified custodians. The proposal would limit how asset managers can handle customers’ crypto assets but would not impose new requirements on individual investors who manage their own portfolios. The rule would expand the qualified-custodian requirements to include virtually any assets that an advisor might hold in a client’s name, including all cryptocurrencies and even some physical assets such as artwork.

Read the full article on Wall Street Journal