SEC Repeals Crypto Rules, Easing Restrictions on Custodians

The U.S. Securities and Exchange Commission (SEC) repealed key rules governing crypto custody and DeFi platforms on June 13, marking a strategic shift towards a more permissive regulatory environment.

SEC's recent decision involves the scrapping of the expanded custody rule aimed at digital assets and rescinds Rule 3b-16, which targeted DeFi exchanges as securities exchanges. This repeal also dismisses proposed ESG disclosure requirements for listed entities.