{"id":73150,"date":"2023-01-27T11:47:49","date_gmt":"2023-01-27T09:47:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73150"},"modified":"2025-09-09T12:29:52","modified_gmt":"2025-09-09T09:29:52","slug":"media-sec-launches-probe-into-crypto-custody-by-investment-advisers","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/media-sec-launches-probe-into-crypto-custody-by-investment-advisers\/","title":{"rendered":"Media: SEC launches probe into crypto custody by investment advisers"},"content":{"rendered":"<p><span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> is examining registered investment advisers for compliance with rules and subsidiary regulations governing the custody of digital assets. <a href=\"https:\/\/www.reuters.com\/technology\/us-securities-regulator-probes-investment-advisers-over-crypto-custody-sources-2023-01-27\/\">Reuters<\/a> reports, citing informed sources.<\/p>\n<p>According to the agency, the regulator began examining the situation several months ago.<a href=\"https:\/\/u1f987.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\"> the FTX collapse <\/a> accelerated the review.<\/p>\n<p>Under the <span data-descr=\"registered investment adviser\" class=\"old_tooltip\">RIA<\/span>, advisers must have the appropriate qualifications to offer custodial services in addition to complying with the custody guarantees set forth in the Investment Advisers Act of 1940.<\/p>\n<p>Anthony Tu-Sekin, who heads Suward and Kisiel&#8217;s blockchain and crypto group, noted that the emergence of information about the investigation indicates that the regulator \u201chas not turned a blind eye\u201d to traditional investment firms.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThis is an obvious compliance issue for investment advisers. If you have client assets that are securities, you must transfer them to custody with one of these qualified custodians,\u201d<\/em> he explained.<\/p>\n<\/blockquote>\n<p>On November 15, 2022, the Wall Street Blockchain Alliance<a href=\"https:\/\/www.sec.gov\/files\/wsba-submission-custody-rule-and-digital-assets.pdf\">sent<\/a> the SEC a letter urging the Commission to clarify the existence of potential amendments to the Custody Rule with respect to digital assets.<\/p>\n<p>As reported, in 2022 the regulator opened 30 crypto-related cases. The figure<a href=\"https:\/\/u1f987.com\/en\/news\/in-2022-the-sec-increased-its-crypto-enforcement-caseload-by-50\"> amounted to<\/a> almost a quarter of the SEC&#8217;s total enforcement actions for the year \u2014 127 cases.<\/p>\n<p>Earlier, Cornerstone Research suggested that oversight of the crypto industry would remain a <a href=\"https:\/\/u1f987.com\/en\/news\/gensler-calls-for-tighter-oversight-of-the-cryptocurrency-industry\">priority<\/a> for the Commission under Gary Gensler&#8217;s leadership. They noted that in May the agency <a href=\"https:\/\/u1f987.com\/en\/news\/sec-to-bolster-crypto-investor-protection-unit\">nearly doubled the size<\/a> of the relevant division.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The SEC is examining registered investment advisers for compliance with rules and subsidiary acts relating to the custody of digital assets, Reuters reports citing informed sources.<\/p>\n","protected":false},"author":1,"featured_media":73151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1156,36,128],"class_list":["post-73150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-institutional-investors-and-whales","tag-regulation","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=73150"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73150\/revisions"}],"predecessor-version":[{"id":73152,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73150\/revisions\/73152"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/73151"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=73150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=73150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=73150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}