US securities regulator probes Wall Street over crypto custody: Report By Cointelegraph

On Jan 28, 2023

The United States Securities and Exchange Commission (SEC) has been probing traditional Wall Street investment advisers that may offer digital asset custody to its clients without the proper qualifications.

A Jan. 26 Reuters report citing “three sources with knowledge of the inquiry” said the SEC’s investigation has been going on for several months but accelerated after the collapse of the crypto exchange FTX.

A letter written to the SEC by six members of the WSBA seeking regulatory clarity over digital asset custodial rules. Source: SEC.