CFTC roundtable: industry urges custody qualifications, not just named depositories, for digital assets

At a CFTC staff roundtable, regulators and market participants agreed the agency should focus on clear, capability‑based qualifications (capital, cyber, segregation, exams) for custodians of customer funds that include digital assets rather than rely solely on entity labels in rules such as 1.20(b). New York’s limited‑purpose trust model was spotlighted as one example of closer prudential oversight.