“The US Securities and Exchange Commission (SEC) has officially withdrawn a number of regulatory initiatives introduced under the leadership of the former head of Geri Gensler. In particular, these are rules concerning decentralized finances (Defi) and storage of digital assets. About it reports The Block. Among the canceled is the amendments to the rule of 3B-16 of the Exchange Law, proposed in April 2023. […]”, – WRITE: Businessua.com.ua
The US Securities and Exchange Commission (SEC) has officially withdrawn a number of regulatory initiatives introduced under the leadership of the former head of Geri Gensler. In particular, these are rules concerning decentralized finances (Defi) and storage of digital assets. About it reports The Block.
Among the canceled is the amendments to the rule of 3B-16 of the Exchange Law, proposed in April 2023. It aimed to expand the definition of “exchange” to include decentralized platforms under the effect of traditional financial regulation.
SEC also recalled the rule that strengthened the requirements for the storage of digital assets, in particular, obliging investment advisers to use only the services of qualified castodians. Market representatives feared that it would limit the number of banks ready to work with cryptocurrencies.
In addition, the requirements for enhancement of cybersecurity and disclosure were abolished ESG practitioner for investment companies.
Gary Gensler headed SEC from 2021 to early 2025. His course on “regulation through court persecution” has often caused criticism and created legal uncertainty for cryptocurrency participants.
We will remind, the current SEC Chairman Paul Atkins recently expressed support for the idea of non -disaspentic storage of assets, calling it “basic American value”.
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