đ Big news in the crypto world! Galois Capital settles with the SEC for $225K over custody failures. While the fine seems small, the impact on RIAs and digital asset custodians is HUGE! đ
đ The SEC's move signals tighter regulations for crypto custody, emphasizing the need for qualified custodians. Galois Capital's assets were improperly held at FTX, leading to customer losses when FTX collapsed.
đĄ RIAs, it's time to review your custody arrangements and ensure compliance with SEC standards. Let's discuss: How do you think this will shape the future of crypto custody? Comment below! #CryptoNews #Blockchain