SEC Supports State Trusts as Crypto Custodians, Boosting Market Confidence
The SEC has issued a no-action letter allowing state-chartered trust companies to hold cryptocurrency for clients, signaling a positive shift for crypto firms. This decision enables financial advisers to use these trusts as custodians without fear of regulatory action, fostering growth in the crypto market and enhancing investor confidence in digital assets.
SEC Supports State Trusts as Crypto Custodians, Boosting Market Confidence
The SEC has issued a no-action letter allowing state-chartered trust companies to hold cryptocurrency for clients, signaling a positive shift for crypto firms. This decision enables financial advisers to use these trusts as custodians without fear of regulatory action, fostering growth in the crypto market and enhancing investor confidence in digital assets.
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