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SEC Chairman Proposes Amending Federal Custody Rules to Cover ‘All Crypto Assets’

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has proposed amending federal custody rules to cover “all crypto assets.” The SEC chief said: “Though some crypto trading and lending platforms may claim to custody investors’ crypto, that does not mean they are qualified custodians.”

All asset classes, including crypto, would be included in the expanded custody rules under his proposal, and companies offering crypto custody services to their clients will be required to obtain registration. Gensler emphasized:

Today’s proposal, in covering all asset classes, would cover all crypto assets.

SEC Gary Gensler
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