The U.S. SEC will soon vote on a proposal on Wednesday that may determine the criteria as to who qualifies as a qualified custodian of crypto assets. Thoughts?
The United States Securities and Exchange Commission is reportedly planning to propose new rule changes this week that could impact what services crypto firms can offer their clients.“people familiar with the matter,” the securities regulator is working on a draft proposal that would make it difficult for crypto firms to hold digital assets on their client’s behalf as “qualified custodians.”
This may, in turn, affect the many hedge funds, private equity firms and pension funds that work alongside such crypto firms. According to those cited, a five-member SEC panel will vote on Feb. 15 whether the proposal proceeds to the next stage. A majority vote — 3 votes out of 5 — will be needed in order for the rest of the SEC to officially vote on the proposal. If that is approved, the proposal would be amended with feedback where necessary.
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