Matt Sigel, Vaneck Head of Digital Assets Research, discusses the SEC cracking down on crypto regulations and the impact of the industry on the world.
The Securities and Exchange Commission on Wednesday proposed a rule that would broaden regulations requiring investment advisors to secure clients' assets with qualified custodians to includeThe proposal, which was formalized on a 4-1 vote, is in response to regulators' concerns that crypto firms' custodial practices may not sufficiently secure investors' assets if a firm falls into bankruptcy.
Gensler added, "Thus, through this expanded custody rule, investors working with advisers would receive the time-tested protections that they deserve for all of their assets, including crypto assets, consistent with what Congress envisioned." Some crypto platforms like Coinbase have argued that cryptocurrencies are digital tokens that don't meet the traditional definition of funds or securities and are therefore outside the
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