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US SEC: Considering Comprehensive Reform of Rules for Crypto Brokers

Summary: According to sources, the US Securities and Exchange Commission (SEC) Chairman, Atkins, stated on Monday local time that the current framework allowing brokers to act as digital asset custodians may need to be abolished and replaced. He also revealed that they are considering granting hedge funds the authority to self-custody crypto assets. Currently, only two ...

According to sources, the US Securities and Exchange Commission (SEC) Chairman, Atkins, stated on Monday local time that the current framework allowing brokers to act as digital asset custodians may need to be abolished and replaced. He also revealed that they are considering granting hedge funds the authority to self-custody crypto assets. Currently, only two institutions in the US have obtained the 'special purpose broker-dealer' license.

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