SEC staff withdraws the joint broker-dealer digital-asset custody statement

What changed

SEC staff withdrew the 2019 joint statement on broker-dealer custody of digital asset securities.

Who it affects

• Broker-dealers, investment advisers, custodians, funds, and clients

What is still open

• What replacement Commission or staff standards will govern particular custody models

What it means for an advisor

• Remove reliance on the withdrawn statement while continuing to apply operative customer-protection and custody requirements.