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Regulatory clarity arrives in pieces, not all at once
Rules keep landing jurisdiction by jurisdiction rather than in one sweeping act. What that means for custody, collateral location and onboarding.
Polychain Compliance4 min read
Allocators keep waiting for the one piece of legislation that settles everything. It is not coming. What is coming is a steady sequence of narrower rules covering custody, stablecoin issuance, market conduct and disclosure, each on its own timeline in its own jurisdiction.
Practical consequences
Three operational decisions follow from this.
- Know exactly which entity and jurisdiction holds each asset
- Keep onboarding documentation portable between custodians
- Assume any single venue can become unavailable to you on short notice
What we do about it
We hold collateral with qualified custodians in segregated accounts and keep a documented migration path for every venue relationship. It is unglamorous work that only pays off on the day something breaks.
Regulation
Custody
Operations