U.S. SEC Releases FAQ on Crypto Asset Activities, Involving Brokers and ETP Rules

Foresight News reports that the U.S. Securities and Exchange Commission (SEC) has released a frequently asked questions (FAQ) document regarding activities related to crypto assets and distributed ledger technology. It clarifies that brokers holding non-securities crypto assets are not subject to the holding and control requirements of Rule 15c3-3, and are not protected by SIPA; the net capital treatment for Bitcoin and Ethereum applies to crypto asset spot ETPs. Commissioner Hester M. Peirce stated that the FAQ provides preliminary guidance for the market, but further refinement is still needed.