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Responding to the SEC Staff on the Custody of Digital Assets under the 1940 Act  


Author:  Susan Gault-Brown.


Source: Volume 56, Number 10, May 15 2023 , pp.143-150(8)




Review of Securities & Commodities Regulation

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Abstract: 

Several years ago, the SEC staff requested feedback on whether a registered fund investing in digital assets could satisfy the 1940 Act’s custody requirements. In this article, the author suggests a response to the SEC staff’s custody question that draws heavily from SEC rules and SEC staff no-action letters.

Keywords: Ownership of Digital Assets: Private Keys; Self-Custody and Certificated Securities; Rules 17F-2, 17F-4; No-Action Relief under Rule 17F-2

Affiliations:  1: Stradley Ronon Stevens & Young, LLP.

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