The SEC is asking for more power, and the largest investment company is ready to manage cryptoassets owned by its clients
The SEC believes that the regulator needs more power
According to the chairman of the U.S. Securities and Exchange Commission (SEC) Gary Gensler, the regulator should have additional powers and resources in order to control the digital currency industry.
Gensler is confident that digital asset investors are poorly protected. The official believes that most cryptocurrencies are unregistered securities.
“I think these platforms may be subject to securities laws, some of them may also have mandatory commodity and banking regulations. This raises many questions regarding the protection of investors and consumers, taking measures against illegal activities and ensuring financial stability,” said the chairman of the SEC.
The largest investment company is ready to manage cryptoassets owned by its clients
Investment company Neuberger Berman plans to start managing BTC and ETH, which are owned by its clients. As stated on the SEC website, it is about the management of securities, futures and ETFs.
The company recently established a new structure that will be entrusted with the relevant activities. According to Neuberger Berman, “the minimum amount accepted from any outside investor is $5 million.”
Interestingly, the total volume of assets under the management of the investment company exceeds $400 billion.