Golden Finance reports that the SEC’s Division of Trading and Markets has issued a staff statement regarding broker-dealer custody of crypto asset securities. The statement states that under the following measures taken by broker-dealers, the SEC will not oppose the broker-dealer treating crypto asset securities held for customer accounts as having “physical possession” under Rule 15c3-3 (b)(1).
Access rights and transfer capabilities of crypto asset securities
Assessment of distributed ledger technology characteristics for crypto asset securities
Suspension of custody services for crypto asset securities due to security or operational issues
Private key protection measures
Measures to ensure the continued safekeeping and accessibility of crypto asset securities during interruption events
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