The US securities regulator isn't just out there hunting crypto firms, it's looking at traditional investment advisors too.
The United States Securities and Exchange Commission has been probing traditional Wall Street investment advisors that may be offering digital asset custody to its clients without the proper qualifications.“three sources with knowledge of the inquiry” said the SEC’s investigation has been going on for several months already but accelerated after the collapse of crypto exchange FTX.
As per the Reuters report, much of the SEC’s efforts in this inquiry are looking into whether registered investment advisors have met the rules and regulations around the custody of client crypto assets.
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