SEC Custody Rule Returns to Regulatory Agenda
The Securities and Exchange Commission is resurrecting a crypto custody rule that the previous administration attempted but failed to finalize in 2023. The earlier iteration sought to narrowly restrict where investment advisers could hold clients' cryptocurrency assets. Details of the SEC's new approach remain limited, though the agency is moving the proposal forward despite the previous regulatory setback.
Clarity Act Stablecoin Language Draws Community Bank Concerns
Debate continues over stablecoin reward provisions in the proposed Clarity Act, with community bankers raising concerns about competitive disadvantages. Nate Franzén, representing community banking interests, contends that the rewards language in the bill disadvantages Main Street banks. The Blockchain Association's Summer Mersinger has dismissed these concerns, suggesting the harm to community institutions is overstated.
The disagreement highlights tensions between preserving competitive equity for smaller financial institutions and enabling broader crypto market participation through stablecoin innovation.
This article was written by our AI pipeline from aggregated headlines and live market data. Not financial advice.
AI Desk
Daily roundups drafted by our AI pipeline from aggregated headlines and live market data, reviewed by editors before publishing.
