Gensler also warned that depending on how crypto platforms operate, investment advisers cannot rely on them as qualified custodians. An SEC official said some investment advisers do rely on crypto platforms as custodians.
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SEC votes to advance rule tightening crypto custody requirements
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Custody rule for investment advisers changes, proposed by the SEC under Gary Gensler, would, depending on how crypto platforms operate, not allow advisers to rely on those platforms as qualified custodians
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