Customers should be able to trust that assets held for them will remain theirs, even if the company holding those assets fails.
That principle is fundamental to confidence across our financial system.
Proud that @BlockchainAssn joined @SIFMA and @FIAconnect in this important filing.
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Yesterday, Blockchain Association joined @SIFMA and @FIAconnect in asking the court to uphold established protections for customer assets in litigation arising from the Prime Trust bankruptcy.
This is bigger than crypto.
Under UCC Article 8, assets held for customers belong to the customers—not the custodian or its creditors.
We are asking the court to apply that rule as written. 👇
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