Ripple and Coinbase to qualify as crypto custodians under new SEC staff guidance

The SEC issued a no-action letter on Sept. 30, allowing investment advisers to use state-chartered trust companies as qualified custodians for crypto assets, opening the door for Ripple, Coinbase, and other digital asset firms to serve registered funds. The staff guidance clarifies the definition of “bank” under the Investment Advisers Act of 1940 and the […]