According to the 760-page proposal, the SEC will allow for self-custody by advisers seeking to hold their clients’ funds. The agency is using the term “self-custody” as an asset management firm practice, not how crypto companies typically use the term. It would first require that… Read More
The SEC’s new proposal to overhaul transfer-agent rules could eliminate duplicate offchain shareholder records, reducing reconciliation costs and legal uncertainty for tokenized securities.
The U.S. Securities and Exchange Commission issued an agenda for its 24-trading roundtable and proposed a new transfer-agent rule with blockchain implications.
In 2023, the regulator tried to narrowly restrict the places investment advisers could park clients’ crypto assets, but the new approach is still shrouded in secrecy.
Earlier this month, as it became clear that the Digital Asset Market Clarity Act would not receive a vote prior to the Senate’s August recess, industry participants suggested that if Congress didn’t act, regulators could. It wouldn’t be exactly the same; regulators’ actions could be… Read More
The source also said SEC staff have become increasingly focused on the agency’s legal authority to issue such broad relief, including whether it has completed sufficient economic analysis and followed the procedural steps required to justify an exemption. Industry insiders have been instructed that this… Read More
