U.S. SEC Chairman: Cryptocurrency exchanges are not "qualified custodians."

ChainCatcher news, according to CoinDesk, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler opposed the view that cryptocurrency exchanges could serve as qualified custodians for investment advisors during Thursday's Investor Advisory Committee meeting. Gensler stated, "The fact that cryptocurrency trading platforms claim to be qualified custodians does not mean they are." (CoinDesk)