The U.S. Securities and Exchange Commission (SEC) has said it will not pursue enforcement action against investment advisers and registered funds that use state-chartered trust companies to custody crypto assets, providing temporary clarity in a sector that has long operated in regulatory uncertainty. In a letter issued on September 30, the SEC’s Division of Investment Management responded to a request from Simpson Thacher & Bartlett LLP on behalf of financial advisers. The letter confirmed that, for now ...