SEC just proposed new crypto custody rules — right as its crypto point-person exits 📋
The SEC issued a proposed rule today covering how investment advisers and funds custody crypto assets. The timing is notable: this lands as Commissioner Hester Peirce — the agency's steadiest crypto advocate and head of its inaugural Crypto Task Force — departs this week.
This continues a pattern we've been tracking: Congress's CLARITY Act failed 49-50 in September, and since then, both the CFTC and SEC have been moving on their own regulatory tracks instead of waiting for legislation.
Combined with the Reg CA fundraising exemptions proposed in August ($5M startup / $75M general), the SEC is building out a meaningful regulatory framework piece by piece — just without the one commissioner who's pushed hardest for crypto-friendly rules internally.
Worth watching who fills that advocacy gap once Peirce is gone.
$BTC
$ETH
#SEC #CryptoRegulation #cryptocustody
The SEC issued a proposed rule today covering how investment advisers and funds custody crypto assets. The timing is notable: this lands as Commissioner Hester Peirce — the agency's steadiest crypto advocate and head of its inaugural Crypto Task Force — departs this week.
This continues a pattern we've been tracking: Congress's CLARITY Act failed 49-50 in September, and since then, both the CFTC and SEC have been moving on their own regulatory tracks instead of waiting for legislation.
Combined with the Reg CA fundraising exemptions proposed in August ($5M startup / $75M general), the SEC is building out a meaningful regulatory framework piece by piece — just without the one commissioner who's pushed hardest for crypto-friendly rules internally.
Worth watching who fills that advocacy gap once Peirce is gone.
$BTC
$ETH
#SEC #CryptoRegulation #cryptocustody
