NEW: SEC Chair Gary Gensler cautioned investment advisers to be careful about treating crypto exchanges as qualified custodians: 'just because a crypto trading platform claims to be a qualified custodian doesn’t mean that it is.' nikhileshde reports
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U.S. Securities and Exchange Commission Chair Gary Gensler pushed back on the idea that crypto exchanges could be safe qualified custodians for investment advisers.directing investment advisers to look to qualified custodians for storage of assets – including cryptocurrencies – makes"important enhancements" to existing protection rules. He also said crypto exchanges should not be considered safe under those guidelines.
"Based upon how crypto trading and lending platforms generally operate, investment advisers cannot rely on them today as qualified custodians," Gensler said."To be clear: just because a crypto trading platform claims to be a qualified custodian doesn’t mean that it is.
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