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The agency is working with the White House’s crypto task force to consider alternatives to this proposal, including withdrawing it entirely, SEC Acting Chairman Mark T. Uyeda said this week. “This approach to custody appears to mask a policy decision to block access to crypto as an asset class,” Uyeda said in the statement.
“Further, investors would benefit from the proposal’s changes to enhance the protections that qualified custodians provide,” Gensler said. “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.”
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