SEC’s Crypto Custody Guidance: What You Need to Know
The SEC’s latest guidance on crypto custody is a game changer for broker-dealers and crypto asset management. As the rules change, grasping the ins and outs of Rule 15c3-3 becomes essential for compliance and staying ahead of the curve. Let’s break down the SEC’s five conditions for physical possession, the potential risks, and some best practices for ensuring the security of crypto assets.
Rule 15c3-3: The New Compliance Landscape for Crypto Payroll
The SEC’s guidance clarifies what broker-dealers need to do when handling crypto asset securities. These securities are basically tokenized versions of traditional equity or debt securities that sit on distributed ledger technology. This guidance is an attempt to clarify how federal…
