#Cryptomarketrebound BREAKING: Positive Decision from SEC Again for Cryptocurrencies! Ripple is also concerned about (XRP)!


SEC signaled that it could take a step concerning Ripple in a new decision it published.

An important step regarding cryptocurrency custody has come from the SEC, the U.S. Securities and Exchange Commission (SEC).

The SEC published a "no-action letter" stating that investment advisors can use state-chartered trust companies as "qualified custodians" for cryptocurrency assets.
According to the Investment Advisors Act of 1940, investors' assets must be held in qualified custodial institutions such as banks or nationally authorized trust companies. The new guidance clarifies that state-licensed trust companies are also included in this scope, offering investment advisors and registered funds a broader range of options for crypto asset custody.

SEC Investment Management Division Director Brian Daly stated in a related announcement, "This additional clarity was necessary because state-licensed trust companies were not universally viewed as suitable custodians for crypto assets." Daly argued that these companies could be utilized if investment advisors conduct the necessary reviews and assess that it is in the best interest of investors.

The decision paves the way for more companies to enter the cryptocurrency custody market. Ripple's Standard Custody subsidiary can now be recognized as a qualified custodian alongside companies like BitGo and WisdomTree.
Daly pointed out that this is merely a staff letter and that an official regulation regarding the matter may be made in the future, stating, "We believe that the market will benefit from this guidance for today's products, today's managers, and today's issues."
IT IS NOT INVESTMENT ADVICE
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JOHAR09vip
· 10-02 09:45
Bull Run 🐂
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JOHAR09vip
· 10-02 09:45
1000x Vibes 🤑
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CryptoChampionvip
· 10-02 05:33
Thanks for the information
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Asiftahsinvip
· 10-01 22:27
HODL Tight 💪
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Surrealist5N1Kvip
· 10-01 15:22
thank you for the information and sharing 💜💜💜
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Surrealist5N1Kvip
· 10-01 15:22
DYOR 🤓
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Surrealist5N1Kvip
· 10-01 15:22
1000x Vibes 🤑
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Surrealist5N1Kvip
· 10-01 15:22
HODL Tight 💪
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Surrealist5N1Kvip
· 10-01 15:22
Ape In 🚀
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Ybaservip
· 10-01 13:56
Watching Closely 🔍
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