White House · SEC · US Congress · CoinDesk
Next for the U.S. SEC: Agency's chief crypto counsel illuminates path for custody
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WASHINGTON, D.C., As the U.S. Securities and Exchange Commission is blazing through much of its crypto agenda, trying to nail down a U.S. regulatory structure in the absence of a solution from Congress, its rules for the proper custody of crypto assets are coming soon.
Key facts
- The SEC's previous effort to pursue a custody rule in 2023 was under a decidedly different regime, and then-SEC Chair Gary Gensler said that crypto firms themselves wouldn't qualify to custody
- As stablecoins move into regulated finance, APAC is becoming a key proving ground
- WASHINGTON, D.C., As the U.S. Securities and Exchange Commission is blazing through much of its crypto agenda, trying to nail down a U.S. regulatory structure in the absence of a solution
- Once the investment advisers’ proposal is cleared by the Office of Management and Budget at the White House, the agency can formally propose it and take comment from the industry and public
Summary
The SEC Crypto Task Force's chief counsel told a CoinDesk Policy & Regulation crowd that the agency is hard at work on the "boring" rules that will assimilate crypto with the regulated securities industry. Taylor Lindman addressed the highlights of the agency's crypto agenda, including the pending custody proposal as well as the things it's already done or is pursuing, such as the tokenization exemption and the proposed rule to allow crypto offerings. WASHINGTON, D.C., As the U.S.
"The big picture with this is they're trying to assimilate the existing securities intermediaries and their existing market participants into a world where they feel comfortable utilizing blockchain, even holding crypto assets, transacting crypto assets, and that includes crypto assets that are securities as well as crypto assets that are non-securities," Lindman said Tuesday at the CoinDesk Policy & Regulation event in Washington.