For firms balancing innovation with fiduciary duty, this is a timely opportunity to strengthen custody oversight, re-evaluate service providers, and prepare for future regulatory developments.
The Simpson Thacher & Bartlett relief provides much-needed clarity for crypto assets. The SEC allowing state-chartered trust companies to act as crypto custodians expands options for advisers, but the relief is conditional on strict criteria and is not a formal rule change.
The custody of digital assets has long been
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