SEC releases FAQs on Cryptocurrency Activities and Distributed Ledger Technology According to the official website, the US Securities and Exchange Commission (SEC) has released Frequently Asked Questions (FAQs) to clarify how broker dealer and transfer agent rules apply to cryptocurrency and distributed ledger technology. Commissioner Peirce stated that the guide covers custody rules, physical (i.e. in the form of encrypted assets) creation of cryptocurrency ETFs, and tokenized securities, and called it a "gradual step forward".