U.S. Securities and Exchange Commission: May undertake a complete reform of rules for encryption brokers.

Golden Ten Data on May 13, the United States Securities and Exchange Commission (SEC) Chairman Atkins said on Monday local time that the current framework that allows brokers to act as digital asset custodians may need to be abolished and replaced, and revealed that it is considering granting hedge funds the authority to independently custody crypto assets. Currently, there are only two institutions in the United States that have been licensed as “special purpose broker-dealers”. Speaking at the Digital Asset Roundtable, Atkins noted that the sluggish response stemmed from the “significant restrictions” set by the previous administration. “Broker-dealers have never been barred from custody of non-security crypto assets or crypto securities,” he stressed. But he also noted that the SEC may need to clarify how customer protection and capital requirements apply to such institutions. Atkins has asked SEC staff to explore new pathways for cryptocurrency regulation, including whether to amend custody rules to allow hedge funds, trading firms and investment advisers to self-custody of digital assets.