New SEC Custody Rule Could Change How Financial Advisers Interact with Crypto Clients

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Nathan McCauley

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In choosing a qualified custodian, bankruptcy protections are key. Bankruptcy-remote custody solutions — like Anchorage Digital Bank, a federally chartered bank — would still meet the SEC definition of a qualified custodian. The analysis is more nuanced with respect to state-chartered trusts, which may vary widely in compliance standards, bankruptcy protections, and key storage safety.

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