#CryptoRoundTableRemarks

The US SEC's 3rd Crypto Roundtable focused on "Know Your Custodian: Key Considerations for Crypto Custody" with remarks from key figures:

- SEC Chairman Paul Atkins: Emphasized the need for clear crypto rules, criticizing past leadership for stifling innovation due to regulatory uncertainty. He expressed support for innovation, highlighting blockchain's potential benefits in efficiency, cost reduction, transparency, and risk mitigation.

- Commissioner Hester Peirce: Urged the SEC to clear up crypto custody confusion, comparing the current regulatory environment to a game where "the floor is lava." She advocated for updating and clarifying crypto-specific rules to support innovation while ensuring investor protection.

- Commissioner Caroline Crenshaw: Stressed the importance of robust, bespoke custody rules for crypto assets, citing unique risks such as hacks and smart contract bugs. She emphasized that crypto innovation shouldn't come at the expense of investor protection .

The roundtable featured two panels discussing broker-dealer custody and custody under the Investment Company Act of 1940, with industry experts sharing their insights .