On November 3, the SEC advanced a draft set of rules for crypto brokers to White House review.
Bitcoin.com News reported that the draft targets four securities regulations, focusing on capital, custody, and recordkeeping. The timing came after Democrats won the midterm elections and were poised to control both chambers of Congress.
· Review by the White House means the rule text has not yet been finalized.
· The four regulations cover brokers’ funds, safekeeping of customer assets, and accounting records; specific provisions have not been disclosed.
If you were to focus on just one, would you look first at the capital requirements or the custody provisions?
Bitcoin.com News reported that the draft targets four securities regulations, focusing on capital, custody, and recordkeeping. The timing came after Democrats won the midterm elections and were poised to control both chambers of Congress.
· Review by the White House means the rule text has not yet been finalized.
· The four regulations cover brokers’ funds, safekeeping of customer assets, and accounting records; specific provisions have not been disclosed.
If you were to focus on just one, would you look first at the capital requirements or the custody provisions?
