SEC No-Action Letter

Definition ∞ An SEC No-Action Letter is a formal communication from the U.S. Securities and Exchange Commission (SEC) staff indicating that they will not recommend enforcement action against a party for a specific proposed conduct. These letters provide guidance on whether a particular activity, such as issuing a digital asset, aligns with existing securities laws. They are not legally binding rules but offer valuable insight into regulatory interpretations.
Context ∞ SEC No-Action Letters are closely watched in the digital asset industry as they provide informal regulatory clarity for projects navigating complex securities laws. News often reports on the issuance of these letters, analyzing their implications for token classifications and operational strategies. The content of these letters helps shape industry practices and legal compliance efforts.

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→SEC No-Action Letter

→Fund Management

→Securities Law Interpretation

SEC Eases Custody Rules Allowing State Trust Companies for Digital Assets

SEC staff guidance permits registered investment advisers to utilize State Trust Companies as qualified crypto custodians, immediately unlocking institutional capital access.

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→Digital Asset Custody

→Regulatory Clarity

→Institutional Finance

SEC Staff Clarifies State Trust Companies May Custody Digital Assets

Institutional asset managers gain a compliant custody pathway, mitigating systemic risk under the Investment Advisers Act.

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→Legal Precedent

→Network Providers

→Decentralized Physical Infrastructure

SEC Staff Grants No-Action Relief for Programmatic DePIN Token Transfers

This landmark SEC staff clarity de-risks programmatic utility token distributions by confirming that 'work-to-earn' models may fall outside Howey's scope.

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→Crypto Asset Safeguarding

→Investment Advisers Act

→Rule 206(4)-2

SEC Staff Confirms State Trust Companies Qualify for Institutional Crypto Custody

This SEC staff position operationalizes institutional crypto custody, providing RIAs and funds a clear compliance pathway for asset safeguarding.

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→Regulatory Clarity

→Investment Management

→Custodial Services Agreement

SEC Staff Permits State Trust Companies as Qualified Crypto Asset Custodians

The SEC staff’s custody no-action relief expands the qualified custodian universe, strategically de-risking institutional crypto adoption.

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→Institutional Participation

→Asset

→Compliance Framework Update

SEC Staff Permits State Trust Companies as Qualified Crypto Custodians

Institutional investors gain critical operational clarity as the SEC affirms State Trust Companies satisfy Qualified Custodian requirements for digital assets.