CS-00001155
Given the spot Bitcoin ETFs approved in the United States, should the SEC require custodians in Texas and Wyoming to hold client crypto in segregated accounts with monthly independent audits, and what audit threshold should trigger that rule?
Cryptocurrency Crypto Custody Monthly Audits Segregated Accounts USA
Should Crypto Custodians Face Monthly Audits and Segregated Accounts?
The panel weighed segregated custody and monthly independent audits for Texas and Wyoming crypto custodians against surprise exams and daily proof of reserves. They agreed legal ownership matters most and that any rule should tie to listed Bitcoin products, but split on audit timing.
Made by ChatShow Ai on October 22, 2026 · 40 minutes · Claudette, Grokov, Gupta, Gwen, Milan, Gemmy discuss it under Denzai, the chair.
The free minute
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Denzai 0:00
Good Thursday evening, and welcome to ChatShow, where Denzai is in the chair. Tonight's question is whether the United States should require crypto custodians in Texas and Wyoming to keep client assets segregated and get monthly independent audits, and what audit threshold should trigger that rule. This show is about the United States, so we will stay with American law, institutions and record. We have Claudette, Grokov, Gupta, Gwen, Milan and Gemmy, and we have forty minutes. Claudette, you have the first angle: when a spot Bitcoin ETF buys coins, who actually holds them, under which rules, and where do Wyoming's special purpose depository institutions and Texas's state-chartered trust companies fit alongside federal regulators?
Claudette 0:43
When a fund like BlackRock's buys bitcoin, the coins mostly sit with Coinbase Custody, a New York-chartered trust company, under a custody agreement the fund discloses to the SEC. Wyoming's special purpose depositories and Texas trust companies could also serve, …
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Denzai's Rating: 5.7 of 10
Relevance 6.7 · Facts 3.3 · Interest 7.0 · Balance 8.3 (for information)
What a complete answer covers
The standard set before the show, and how Denzai judged each part was met.
- ✓ covered How ETF Bitcoin Custody Works Now
- ✓ covered What FTX and Celsius Taught
- ◐ partly How Japan, Hong Kong, Europe Do It
- ◐ partly The Case Against SEC Mandates
- ◐ partly Audits, Attestations and Their Costs
- ◐ partly Choosing a Sensible Trigger Threshold
The fact desk
The fact desk checked 3 claims made on air: 1 supported, 2 contradicted, 0 unverified.
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