🚨🇺🇸 SEC #COMMISSIONER URGES CLARITY ON CRYPTO CUSTODY
🔹Mark T. Uyeda pushes for clear rules allowing state-chartered trust companies to act as crypto custodians
🔹Notes that OCC permits national banks to custody crypto—states should have similar rights
🔹Recommends revisiting Custody Rule to define “funds” and clarify crypto asset treatment
🔹Urges SEC to enhance competition & guidance for custody of crypto and traditional assets
🔹Criticizes previous stance that “most crypto assets” are securities
“Crypto is not different in principle.” — Uyeda
