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Take part in MBG activities (CandyDrop, Launchpool, or spot trading), and post your screenshots, earnings, or step-by-step tutorials. Content can include profits, beginner-friendl
U.S. SEC: May thoroughly reform rules for encryption brokers
PANews reported on June 21 that 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 he is considering granting hedge funds the authority to self-custody crypto assets. Currently, only two institutions in the U.S. hold a "special purpose broker-dealer" license. Gensler pointed out at the digital asset roundtable that this lackluster response stems from the "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 the development of new regulatory pathways for crypto assets, including examining whether to amend custody rules to allow hedge funds, trading companies, and investment advisors to implement self-custody of digital assets.