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SEC Reconsiders Stricter Crypto Custody Rules Amid Concerns

3/17/2025

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Summary

Story summary

The SEC is re-evaluating stricter custody requirements for crypto assets proposed by former Chair Gary Gensler.
Acting Chair Mark Uyeda acknowledged public concerns regarding the rule's extensive scope during a San Diego conference.
The agency is considering alternatives, including possibly withdrawing the rule, in partnership with the White House's crypto task force.
Uyeda stressed the importance of regulatory measures that align with statutory authority and manage compliance costs.
The SEC is also reviewing a rule mandating monthly portfolio holdings reports for mutual funds and ETFs.

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Story summary

The SEC is re-evaluating stricter custody requirements for crypto assets proposed by former Chair Gary Gensler.
Acting Chair Mark Uyeda acknowledged public concerns regarding the rule's extensive scope during a San Diego conference.
The agency is considering alternatives, including possibly withdrawing the rule, in partnership with the White House's crypto task force.
Uyeda stressed the importance of regulatory measures that align with statutory authority and manage compliance costs.
The SEC is also reviewing a rule mandating monthly portfolio holdings reports for mutual funds and ETFs.