SEC Plans to Restrict Hedge Funds Exposure to Crypto With New Proposal

The U.S. Securities and Exchange Commission (SEC) has proposed a draft that would make it harder for hedge funds, private equity firms, and pension funds to work with crypto companies. The proposal would make it difficult for crypto firms to hold digital assets on their client's behalf as "qualified custodians," a designation that allows companies to hold client assets for money managers, Bloomberg reported Tuesday, citing people familiar with the matter. ...