Regulatory shifts under the Trump administration suggest a more industry-friendly stance towards cryptocurrency firms and financial institutions.
The United States Securities and Exchange Commission (SEC) is considering reversing a proposed rule that would impose stricter custody requirements on investment advisers handling cryptocurrencies.
Acting SEC Chair Mark Uyeda announced the potential change during a conference in San Diego, highlighting concerns over the broad scope of the crypto custody rule and compliance challenges.
Proposed in February 2023, the custody rule would require registered investment advisers to store crypto assets with qualified custodians while implementing additional safeguards. Significant objections from industry participants have led the SEC to reassess its approach.
Uyeda also revealed that the agency is reviewing a separate regulation mandating monthly…
