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)
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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.