The potential withdrawal of SEC's revisions to the crypto custody rule brings challenges for investment managers. Mark Uyeda, Acting SEC Chairman, discussed this issue at a San Diego conference.
Proposal Consideration and Its Role
Mark Uyeda, Acting SEC Chairman, mentioned the possible withdrawal of the 2023 proposal aimed at tightening crypto custody requirements. He addressed multiple concerns on its broad industry impact at the investment forum.
Market Reaction and Clarity Importance
The market's cautious reaction emphasizes the need for clear regulatory guidance. SEC's decisions could affect crypto advisers' operations and future compliance strategy.
Prospects and Experts
Experts suggest that reviewing the custody rule might simplify or complicate digital asset regulatory frameworks. Historical analysis shows regulatory shifts often impact cryptocurrency investment strategies.
As the SEC continues evaluating the potential withdrawal of the crypto custody rule, the industry awaits clarity for future compliance approaches.
