Sec. 504. Report on custody of digital assets and digital asset securities
155 words·~1 min read·
/bill/117/hr/4741/ih/section-504·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 270 days after the date of the enactment of this Act, the Securities and Exchange Commission, the Office of the Comptroller of the Currency, the Secretary of the Treasury, and the Commodity Futures Trading Commission, shall jointly submit a report to the appropriate committees that— provides recommendations on the regulation, licensing, and auditing of digital asset custodians and digital asset security custodians; and considers each of the following issues: The custody of digital assets and digital asset securities.
Estimates on digital assets and digital asset securities custody at trading platforms, licensed custodians, self custody in wallets. FINRA Guidance to Broker Dealers on Digital Asset and Digital Asset Security Custody. AICPA position on custody of digital assets and digital asset securities. Custodian markets, banks, trust companies, brokers, dealers, and futures commissions merchants. The background on major United States and foreign digital asset and digital asset security custodians by size (assets held) and licensing.