**Crypto Custody Shake-Up: SEC Settles with Galois Capital for $225K**
In a landmark move, the SEC settled with defunct crypto hedge fund Galois Capital for $225,000 over custody failures. This case underscores the SEC's push to regulate digital asset custody more strictly.
Key points:
- Galois Capital failed to use a qualified custodian, violating the Investment Advisers Act.
- The SEC aims to extend traditional custody rules to digital assets.
- RIAs managing crypto must ensure compliance to avoid similar penalties.
What are your thoughts on the SEC's increased oversight? Drop your comments below! đ