Why the Newly Proposed Custody Role Could Represent a De Facto Ban on Crypto
The Breakdown
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SEC Moves Against State Chartered Trust Companies
There will be a wall of united pushback against this indemnity provision. The SEC for years has signaled it doesn't believe most trust companies are qualified custodians. State chartered trust companies can't guarantee the segregation of assets if they go bankrupt. Most likely there won't end up being a difference between state and federally chartered banks.
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