Crypto Assets – SEC Relief for Registered Investment Advisers
The US Securities and Exchange Commission Division of Investment Management Staff recently issued a no-action letter permitting, among, other things, registered investment advisers to use state trust companies to custody crypto assets. This position is an indication of the increased acceptance of Crypto Assets as an asset class and the increased demand for Crypto Asset investment strategies over the past decade. TAKEAWAYS:
- The Letter defines the term “Crypto Assets” broadly as assets that are “digital representations of value that are recorded on a cryptographically secured distributed ledger.”
- Investment Advisers will still need to comply with certain conditions such as thorough due diligence and disclosures on a potential custodian.
Crypto Assets – SEC Relief for Registered Investment Advisers
Alternative Fund, PLLC, a boutique business matter law firm offering private fund manager clients a sophisticated expertise. As a boutique law firm, we offer a viable and pragmatic option across: hedge funds, private equity, and venture capital firms. Fund manager C-suite executive and law firm experienced attorneys with pragmatic front to back-office legal and business know-how working with both conventional to complex fund manager offerings, organizations and spectrum of asset strategies.
Contact: If you have any questions, please contact us: www.afundpllc.com +1 917.558.7794 office@afundpllc.com
Attorney Advertising— Alternative Fund, PLLC provides this information as a service for educational purposes only. It should not be construed or relied on as legal advice or to create a lawyer-client relationship. Readers should not act upon this information without seeking advice from professional advisers. www.afundpllc.com
