SEC charges and settles with crypto-focused Galois Capital over custody issues
Powered by @unfoldedThe U.S. Securities and Exchange Commission (SEC) has charged and settled with Galois Capital, a crypto-focused investment advisory firm, over custody issues related to how it held client assets.
The charges specifically involved a private fund that primarily invested in cryptocurrencies.
Galois Capital agreed to a settlement with the SEC, although it did not admit or deny the agency's findings.
The SEC stated that Galois Capital's failure to comply with custody rule provisions exposed investors to risks of losing or misusing fund assets, including crypto assets.