The regulator is concerned crypto firms aren't being straight with investors as to the risks associated with custodying crypto assets
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The crypto ecosystem has seen rapid growth in the number of platforms that custody digital assets for customers, and the Securities and Exchange Commission was concerned that these firms were not being straight with investors as to the risks associated with this line of business.
The securities regulator issued new guidance Thursday to public crypto platforms, urging them to recognize crypto held on the behalf of customers as a liability and asset on their balance sheets, the value of which could be lessened due to the unique…
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