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A five-member panel of the United States Securities Exchange Commission (SEC) has voted 4-1 in favor of a proposal that may make it more difficult for cryptocurrency firms to serve as digital asset custodians in the future.The proposal, which is yet to be officially approved by the SEC, recommends amendments to
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U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has proposed amending federal custody rules to cover “all crypto assets.” The SEC chief said: “Though some crypto trading and lending platforms may claim to custody investors’ crypto, that does not mean they are qualified custodians.” Gary Gensler Proposes Including Crypto in
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“Anchorage Digital Bank, the first and only fully operational OCC-chartered digital asset bank, is unequivocally a ‘qualified custodian’,” said Georgia Quinn, the company’s general counsel, in a statement. “While Anchorage Digital would be largely unaffected by the proposed rule, we plan to work with all stakeholders to ensure any transition
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The Swiss crypto tech provider hired IBM’s Peter DeMeo as head of product, as well as former IBM lead architect, Angel Nunez Mencias. Source
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“The subsequent investigation determined that Copper hadn’t suffered any breach or business interruption and that no client information had been compromised,” Copper said in a statement. “The incident was not of a nature that required disclosure with applicable law or regulations, operations continued to run smoothly and caused no further
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“Events like FTX have highlighted the need for a more traditional approach to things,” said Archax Chief Marketing Officer Simon Barnby in an interview. “As an FCA-regulated custodian, we are permitted to hold cryptocurrencies, tokenized assets like funds or real estate, as well as traditional instruments and cash for our
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The SEC has been warning public companies that if they have a stake in the industry's recent crypto contagion, they'd better tell investors, as Cryptox previously reported. The SEC asked if companies face any risks to their businesses “due to excessive redemptions, withdrawals or a suspension of redemptions or withdrawals,
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The United States Securities and Exchange Commission (SEC) has been probing traditional Wall Street investment advisors that may be offering digital asset custody to its clients without the proper qualifications.A Jan. 26 Reuters report citing “three sources with knowledge of the inquiry” said the SEC’s investigation has been going on
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The regulations took affect on Monday and offer policy and guidelines for overseeing the management of digital wallets and keys plus procedures for designing digital wallets. The regulation also sets out the need for a contingency plan in case an event occurs that could affect the management system of digital
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