🔥SEC Buried Biden's Rules for Crypto
The U.S. Securities and Exchange Commission (SEC) has canceled the set of rules proposed under Biden, including two key ones for the crypto market. One of them could have classified DeFi protocols as exchanges, while the other would have tightened the requirements for the storage of digital assets.
✔️Coinbase is especially pleased with the cancellation. The exchange's chief lawyer, Paul Grewal, is already posting memes on X with the caption "R.I.P. Gensler's Rules." This is because the SEC will no longer require investment companies to store crypto only with "qualified custodians" (only with banks).
What's next? Trump continues to unravel the regulatory knot, and the crypto industry breathes a sigh of relief 📈