SEC Staff Seeks Industry Engagement on Questions Regarding Development of Funds Holding Cryptocurrency-Related Products

January 29, 2018

The Director of the U.S. Securities and Exchange Commission (SEC) Division of Investment Management has outlined concerns of the SEC Staff (Staff) with respect to the registration of funds that hold cryptocurrencies and cryptocurrency-related financial instruments. In a January 18, 2018 letter (Letter) to the President and CEO of the Investment Company Institute and the Head of the Asset Management Group of the Securities Industry and Financial Markets Association, Director Dalia Blass requested engagement by those industry groups and their respective members, as well as fund sponsors, regarding the Staff’s concerns over funds registered under the Investment Company Act of 1940 (1940 Act) holding such investments.

Read "SEC Staff Seeks Industry Engagement on Questions Regarding Development of Funds Holding Cryptocurrency-Related Products."