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a16z has submitted a letter to the SEC advocating for updated custody rules that allow Registered Investment Advisers (RIAs) to directly hold crypto assets. The firm emphasizes the need for investor asset protection and clear regulatory frameworks to drive better outcomes for advisory clients in the digital asset space.
What’s the Scoop?
- Push for Modernized Guidelines: a16z submitted a letter proposing modifications to the SEC's custody rules to enable RIAs to manage crypto assets directly.
- Focus on Investor Safeguards: The letter highlights the importance of safeguarding investor assets by providing clearer, more tailored guidelines.
- SEC's Action Welcomed: a16z expressed enthusiasm for the SEC's willingness to collect feedback on crypto custody regulations.
