🚨BREAKING: The U.S. Securities and Exchange Commission has issued a no-action letter saying that investment advisers can use state-chartered trust companies as qualified custodians for crypto assets. What does this mean? Under the Investment Advisers Act of 1940, advisers must keep client assets with a

Many thanks to the amazing team at STB for picking up the mantle on this important issue. Huzzah Justin Browder anoncounsel et al.

Major W for investor access to crypto🚨 SEC delivers 2nd crypto NAL under Chair Atkins (s/o Justin Browder & STB team). NAL makes clear that RIAs & 40 Act funds can treat State Trust Cos as “qualified”/permissible custodians for custody of crypto & related cash/cash equivs (RCCE) 🧵👇

This is a textbook example of more clarity for the digital asset space. Exactly the sort of thing the industry was asking for over the last few years. And it keeps coming.

Thrilled to achieve this result for our clients!

The long overdue clarity we have all been waiting for. Another no-action letter from the SEC clarifying that providers of #crypto custodial services now CAN serve as qualified #custodians for registered advisers & registered funds under 1940 Act. Thank you Mike Selig and team.

Couldn’t agree more Senator Cynthia Lummis

Division of Investment Management issued a no-action letter on custody: sec.gov/newsroom/speec… and sec.gov/rules-regulati…

It's official. GeminiTrustCo is a qualified custodian! 🚀

As we head into a critical period in the evolution of US cap mrkts, where crypto is finally being integrated into the financial system and SEC and CFTC harmonization is more important than ever, there is no one more qualified to lead the CFTC than Mike Selig The CFTC needs

There's nothing more important for crypto policy than the White House nominating a new CFTC chair and nobody better than Mike Selig for the job. I've had the honor of knowing Mike for years and he's the real deal: a brilliant lawyer and proven leader perfect for this role. 🤞

WOW! Mike Selig is a generational talent and I'm not surprised in the least he's the leading contender to be the next CFTC chair. Although it would be a big loss for the SEC to lose him, it would be a big win for America and the crypto industry. subscriber.politicopro.com/article/2025/1…

No one is better suited than Mike Selig to harmonize the CFTC and SEC on crypto and more - reducing duplicative regulation and patching fragmentation. Mike Selig

Who is Mike Selig? He’s a thoughtful and principles-based leader who has quickly reversed years of flawed policies and reasserted U.S. leadership across crypto, technology and innovation. Yes, he’s one hell of a guy. dlnews.com/articles/regul…

Our second segment features Jay Stolkin interviewing Mari Tomunen and Justin Browder about the recent DoubleZero and Qualified Custody no action letters granted by the SEC.

Chris is spot on. Mike Selig is a cross jurisdictional expert, having worked CFTC (under Giancarlo) and U.S. Securities and Exchange Commission (under Atkins). He deeply understands the CEA and, more importantly, the important harmonization and crypto challenges that await a Chair. Also a great guy. :)

1/ Bloomberg is now reporting that President Trump is about to make official his nomination of Mike Selig to be Chairman of the CFTC. So who is Mike and why is this important?

President Trump has made an excellent choice in Mike Selig to lead the CFTC. As anyone who knows him will attest, Mike Selig is deeply knowledgeable about financial markets and passionate about modernizing our regulatory approach in order to maintain America’s

Immensely proud of my friend and former partner Mike Selig! No one is better suited for the job!