Brokers' digital-asset custody the focus of guidance being drafted, SEC official says

19 November 2018 7:24am
US securities regulators are preparing guidance for broker-dealers and institutional investors on safekeeping of clients’ digital assets, a move that could bolster market confidence and spur investment in the risky sector.

William Hinman, head of the US Securities and Exchange Commission’s corporation finance unit, said, “We’re getting much closer to having some guidance out there for the industry that wants to custody these [cryptocurrencies].”

Speaking recently at a Washington conference,* he added: “Broker-dealers, other institutional investors want to have a better sense of what do they need to do to safeguard these assets in accordance with the regulations they need to comply with.”