The SEC Issues Statement and Requests Comment Regarding the Custody of Digital Asset Securities by Special Purpose Broker-Dealers
By EsqSocial Corporation 02/02/21
On December 23, 2020, the Securities and Exchange Commission (SEC or Commission) issued a statement (Statement) regarding the custody of digital assets that are “securities” under the federal securities laws. The Statement sets forth the Commission’s position that, for a five-year period, certain special purpose broker-dealers that maintain custody of digital asset securities3 in compliance with certain conditions will not be subject to a Commission enforcement action for compliance with Rule...
By: WilmerHale