TechFlow, May 16 — According to the U.S. Securities and Exchange Commission (SEC) website, the SEC’s Division of Trading and Markets has released a set of frequently asked questions (FAQ) regarding the application of broker-dealer financial responsibility rules and transfer agent rules to crypto asset activities and distributed ledger technology.
The document explicitly states that the broker-dealer custody rule (Rule 15c3-3) does not apply to non-security crypto assets, and provides detailed guidance on the treatment of Bitcoin and Ethereum under net capital requirements. Additionally, the FAQ explains how transfer agents may use distributed ledger technology as their official primary record of security holders or as part of such records.
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