URGENT! The White House has just received a set of crypto asset custody regulations from the U.S. Securities and Exchange Commission (SEC).
What does this mean? At last, investment advisors can legally hold cryptocurrencies in custody.
The SEC has made a 180° turn on crypto custody 🤯
For two years, banks said: "We can’t touch cryptocurrencies."
Yesterday, the SEC sent a new rule to the White House that says: "Banks and funds can now custody your BTC and ETH".
This has been officially classified as a deregulation (DEREGULATORY). Fewer rules, not more.
Gary Gensler’s strict rule for protecting assets = over
Atkins’ new, more flexible custody rule = coming in October
This opens the door to trillions. BlackRock and Fidelity can now legally custody cryptocurrencies for clients using Multi-sig and MPC wallets.
Question: Will a bank be allowed to custody your bitcoin, or will it still be self-custody (SELF-CUSTODY)?
Bullish (BULLISH) or bearish (BEARISH)? Write a comment below 👇
Follow-up, please
#SEC #CryptoNews #BTC #CryptoCustody #secsendscryptocustodyruletowhitehouse
$BTC
What does this mean? At last, investment advisors can legally hold cryptocurrencies in custody.
The SEC has made a 180° turn on crypto custody 🤯
For two years, banks said: "We can’t touch cryptocurrencies."
Yesterday, the SEC sent a new rule to the White House that says: "Banks and funds can now custody your BTC and ETH".
This has been officially classified as a deregulation (DEREGULATORY). Fewer rules, not more.
Gary Gensler’s strict rule for protecting assets = over
Atkins’ new, more flexible custody rule = coming in October
This opens the door to trillions. BlackRock and Fidelity can now legally custody cryptocurrencies for clients using Multi-sig and MPC wallets.
Question: Will a bank be allowed to custody your bitcoin, or will it still be self-custody (SELF-CUSTODY)?
Bullish (BULLISH) or bearish (BEARISH)? Write a comment below 👇
Follow-up, please
#SEC #CryptoNews #BTC #CryptoCustody #secsendscryptocustodyruletowhitehouse
$BTC
