EddieJayonCrypto
24 Apr 25
The U.S. Securities and Exchange Commission (SEC) will hold its second crypto policy roundtable focusing on crypto asset custody rules and regulatory gaps, part of a four-part series by the SEC’s Crypto Task Force. New Chairman Paul S. Atkins will give opening remarks. The roundtable includes two pa...
The U.S. Securities and Exchange Commission (SEC) is set to hold its second crypto policy roundtable, zeroing in on crypto asset custody rules and addressing regulatory gaps.This event is part of a four-part series led by the SEC’s Crypto Task Force, aiming to refine digital asset policies. New Chairman Paul S. Atkins will deliver opening remarks as he pledges regulatory clarity for the crypto space.The roundtable features two panels: one focusing on custody challenges through broker-dealers and another on custody by investment advisers and investment companies. Current SEC regulations mandate that investment advisers maintain client crypto assets with qualified custodians—typically banks or broker-dealers. However, many firms struggle to meet these requirements due to crypto’s unique technology and the necessity for 24/7 trading capabilities.A 2023 SEC proposal to update custody rules has stirred controversy, criticized for not providing practical solutions tailored for crypto-native firms.Participants include representatives from leading firms such as Fireblocks, Anchorage Digital Bank, Fidelity Digital Assets, Kraken, and BitGo. Legal and academic experts, like Neel Maitra of Dechert LLP and Justin Browder of Simpson Thacher, will also weigh in, highlighting the tension between investor demands for easy access and stringent regulatory compliance.This roundtable follows a previous discussion on crypto trading held earlier in April. The SEC plans to continue the conversation with sessions on tokenization scheduled for May 12 and decentralized finance on June 6, signaling a focused effort to navigate the complex regulatory landscape surrounding digital assets.