Revoke of SEC Crypto Rule: A Shift in Policy
In 2022, the SEC introduced a rule requiring firms holding crypto assets for clients to report them as liabilities. This created challenges for banks and companies in the crypto space, discouraging many from offering custody services due to the financial burdens.
On January 23, 2025, the SEC revoked this rule. The move was seen as a positive step, encouraging traditional financial institutions to enter the crypto market. It allows banks to handle crypto assets without excessive reporting requirements, potentially boosting crypto adoption.
Conclusion: While the decision is celebrated for reducing barriers, some experts caution it could reduce transparency and expose investors to risks if asset management is not properly regulated.
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