In a shift from its previously hardened stance, the US Securities and Exchange Commission has offered a limited olive branch to the crypto industry.
The regulator issued a no-action letter permitting investment advisers to use state-chartered trust companies as qualified custodians for digital assets.
This carefully worded guidance creates a new, compliant channel for registered investment firms to handle cryptocurrencies like Bitcoin and Ethereum.
While not a full endorsement, it provides the “textbook” regulatory clarity the industry has demanded, as noted by Bloomberg analyst James Seyffart. The move is particularly significant given the recent backdrop of “Operation Choke Point 2.0,” which saw multiple agencies limiting crypto firms’ access to banking services.
