Coinbase's Chief Legal Officer suggests that the U.S. SEC amend RIA regulatory rules to protect all asset classes, including cryptocurrencies

ChainCatcher news, Coinbase Chief Legal Officer Paul Grewal has written to the U.S. Securities and Exchange Commission (SEC), suggesting amendments to the SEC's Registered Investment Advisor (RIA) regulatory rules to protect all asset classes, including cryptocurrencies.

Paul Grewal proposed expanding the scope of RIA custody obligations from "funds and securities" to all client assets and believes that the SEC should retain state-regulated trust companies as qualified custodians, allowing for limited risk exposure restrictions on unqualified custodians, among other things. (source link)