US Securities and Exchange Commission (SEC) officials sound the alarm on crypto at the emergency summit
Summary of the SEC emergency summit:
Three keys that will reshape the world of digital asset custody:
1️⃣ Regulatory clarity: A surprising statement from Commissioner "Mark Uyeda", not all digital assets are "securities"
2️⃣ Investor protection: Commissioner "Caroline Crenshaw" warns: "Decentralization is not an excuse for weak protection".
3️⃣ Innovation in regulations: Commissioner "Hester Peirce" calls for flexible rules that keep pace with blockchain technology.
The most controversial points:
1- The classification dilemma:
- "Not all digital assets are securities... but some may be considered 'investment funds'" (Uyeda).
- The impact: This may impose a new classification for assets, determining their legal custody requirements.