Notably, in February, the SEC voted to expand its existing regulations over all trading and lending firms by requiring them to keep customer assets with โqualified custodians,โ meaning chartered bank or trust companies, SEC-registered broker-dealers or Commodity Futures Trading Commission (CFTC) derivatives merchants. Crypto speaks about the proposal as the โcustody rule.โ
Why Nasdaq Backing Out of Custody Is Bad, Bad News for Crypto
