Joint Statement by SEC & FINRA on Custody Solutions for Digital Securities

By Lahdan Rahmati, Esq. | July 17, 2019

On July 8, 2019, the SEC and FINRA issued a joint statement, which underscores the importance of establishing custody solutions that meet the possession or control standards over customers’ digital asset securities, or digital securities, because brokerage firms can fail just like Bear Stearns and Lehman Brothers failed in 2008. The joint statement acknowledges the fact…

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