The US Securities and Exchange Commission (SEC) can revise or give up the controversial proposal of former chairman Gary Gensler, who will strengthen the custody of encryption custody of investment advisors.
Gensler’s 2 -year -old proposalThe SEC tried to expand the federal custody rules to include assets such as Crypto, and the Investment Advisor demanded to have qualified managers and customer assets such as the Federal or State Bank.
his speaking SEC chairman’s acting at the investment conference held in San Diego on Monday Mark uyeda Gensler’s proposals have recognized the “important concerns” raised by the industry commentators about the “wide range”.
Uyeda said, “If such concerns are given, there may be a big difficulty in proceeding with the original proposal.
The regulators mentioned that the SEC staff instructed them to explore alternatives, including withdrawal of the rules in cooperation with the agency’s encryption task force.
The leadership of former SEC chairman was defined by a strict password, but his resignation Before Trump took office, the pivot was marked in the regulatory direction of the SEC.
The SEC’s position on Crypto has changed considerably under the leadership of President Donald Trump, and there was a more generous and cooperative approach to replacing the hostile regulatory attitude of the BIDEN administration.
Together with Uyeda, the SEC in HELM has reconsidered some major policies in the Gensler era, including the controversial encryption regulations. Litigation by 18 states Before his departure.
Changes are included I think again Stop the extended definition of “exchange” and the implementation of specific rules for encryption companies.
Trump cancellation SAB (SANT Accounting Bulletin) 121 rules are required for companies with password assets to record debt in the balance table.
The regulatory agency has since withdrawn its execution measures against major encryption companies. transposition,,, Krakenand CoinbaseAbove all, we signal great relief from tax legal battles and uncertainty that have harassed the industry over the past few years.
The trump administration’s approach to encryption regulations was an important password initiative. Encryption task force Crypto Mom’hester Peirce.
Task Force is in charge of working closely with the Crypto industry. reservation It will be held this Friday.
Edited by SEBASTIAN SINCLAIR
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