Teresa Tellett unveils new RIA requirements for crypto self-custody
- —RIAs would be required to sign written agreements with clients on crypto self-custody
- —Self-custodied crypto would be treated as financial assets under UCC Article 8
- —Rules target protection of client assets if an adviser goes bankrupt
Why it matters: Classifying crypto as a financial asset under UCC gives holders stronger legal claims and reduces losses in adviser bankruptcy scenarios.
Source: Coinfomania
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