SEC withdraws multiple encryption regulatory proposals including custody rules

Gate News bot message, according to encryption journalist Eleanor Terrett, the U.S. Securities and Exchange Commission (SEC) has announced the withdrawal of several regulatory proposals made during Gensler’s leadership, including the Custody Rule proposal and Rule 3b-16.

The withdrawn custody rule proposal was originally intended to expand the regulatory scope to all client assets, including encryption, and redefine the concept of “custody.” The proposal had previously sparked discussions on whether state-chartered institutions should be recognized as qualified custodians.

The concurrently withdrawn 3b-16 rule proposal was planned to include decentralized finance (DeFi) exchanges and platforms into the national SEC regulatory framework. In addition, the SEC also canceled the proposal for mandatory disclosure of ESG (Environmental, Social, and Governance) information for listed companies.

Source: Wu says

Original link