PANews June 21 - According to Jinshi News, SEC Chairman Gary Gensler stated on Monday local time that the current framework allowing brokers to act as custodians for digital assets may need to be abolished and replaced, and revealed that it is considering granting hedge funds the authority to self-custody crypto assets. Currently, only two institutions nationwide hold a 'Special Purpose Broker-Dealer' license. Gensler pointed out at a digital assets roundtable that this tepid response stems from 'significant restrictions' set by the previous administration. He emphasized, 'Brokers have never been prohibited from custodizing non-securities crypto assets or crypto securities.' However, he also noted that the SEC may need to clarify how customer protection and capital requirements apply to such institutions. Gensler has asked SEC staff to explore new paths for cryptocurrency regulation, including researching whether to amend custody rules to allow hedge funds, trading firms, and investment advisors to self-custody digital assets.