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SEC Publishes Crypto Exam Playbook

March 8, 2021


Advisors holding digital assets must have strict policies in place to safekeep the assets from unauthorized transactions and other risks, the Securities and Exchange Commission warned last week.

The Division of Examinations published a risk alert on Friday that warned investment advisors, broker-dealers, exchanges, transfer agents and other entities about key compliance risks that they may face when working in the cryptocurrency sector or using blockchain technology.

“This being such a new area, utilizing the parameters of the existing custody rules is going to take some creativity on advisors’ behalf.” Foreside’s Stacy Howell-Pereira, Senior Director shared with Ignites.

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