SEC Chair Gensler Casts Doubt on Crypto Exchanges' Ability to Meet "Qualified Custodian" Standards – Here's Why

Crypto exchanges likely do not meet the requirements expected of a qualified custodian, Securities and Exchange Commission (SEC) chair Gary Gensler has said.
Gensler said the fact that exchanges cannot be considered custodians in the legal sense has become clearer as more information has emerged about how these companies operate. He also stressed that this fact doesn’t change even though an exchange or crypto trading platform may refer to itself as a custodian....
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