SEC releases FAQ on crypto asset activities, involving broker and ETP rules

According to Foresight News, the US Securities and Exchange Commission (SEC) has released a Frequently Asked Questions (FAQ) regarding cryptocurrency activities and distributed ledger technology. It is explicitly stated that brokers holding non securities encrypted assets are not subject to the holding and control requirements of Rule 15C3-3 and are not protected by SIPA; The net capital treatment of Bitcoin and Ethereum is applicable to cryptocurrency spot ETP. Commissioner Hester M. Peirce stated that the FAQ provides initial guidance for the market, but further improvement is still needed.