[U.S. SEC Releases FAQ on Crypto Assets and Distributed Ledger Technology Regulation] The U.S. Securities and Exchange Commission (SEC) Division of Trading and Markets has released a FAQ document regarding activities involving crypto assets and distributed ledger technology (DLT). The document states that non-security crypto assets are not subject to the requirements of Section 15c3-3 of the Securities Exchange Act, and the SIPC does not provide protection for such non-registered products. However, it is recommended to treat them as 'financial assets' to enhance bankruptcy isolation. The SEC permits compliant exchanges to offer trading pairs of crypto securities and non-security assets, does not oppose the use of blockchain as the primary ledger, and clarifies that registered broker-dealers operating ATSs may internally settle customer trades.