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SEC Chair Signals Potential Overhaul of Crypto Custody Rules
SEC Chair Signals Potential Overhaul of Crypto Custody Rules
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SEC Chairman Paul Atkins has indicated a sweeping review of digital asset custody rules may be imminent. During a roundtable discussion at the agency’s headquarters, Atkins criticized the current framework as outdated, noting its limited adoption—only two firms have secured special-purpose broker-dealer status under the existing regime.
The remarks suggest a potential repeal-and-replace approach, targeting policy decisions from the prior administration that Atkins claims created structural limitations. Broker-dealers remain technically permitted to custody crypto, but the chair’s comments imply stricter safeguards may be forthcoming.
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