Negative
22Serious
Neutral
Optimistic
Positive
- Total News Sources
- 1
- Left
- 1
- Center
- 0
- Right
- 0
- Unrated
- 0
- Last Updated
- 5 days ago
- Bias Distribution
- 100% Left
SEC Lets State Trusts Custody Crypto Assets
The SEC’s Division of Investment Management issued a no-action letter saying it will not recommend enforcement against registered investment advisers and regulated funds that use state-chartered trust companies to custody crypto assets so long as the trusts have appropriate safeguards and advisers perform due diligence and meet specified criteria. The letter, prompted by a Simpson Thacher & Bartlett request, allows advisers to treat a state trust as a “bank” for placement and maintenance of crypto and related cash but is not a formal rule and carries no standalone legal force. Officials framed the letter as an interim step while the agency plans formal rulemaking to amend custody requirements. Practically, the guidance could expand the universe of qualified custodians — including state-trust affiliates of major crypto firms such as Coinbase and Kraken — reduce short-term compliance risk, and help attract more institutional capital into digital assets.

- Total News Sources
- 1
- Left
- 1
- Center
- 0
- Right
- 0
- Unrated
- 0
- Last Updated
- 5 days ago
- Bias Distribution
- 100% Left
Negative
22Serious
Neutral
Optimistic
Positive
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