US House Committee moves to overturn SEC rule limiting bank crypto custody

2024-3-1 11:19

The House Financial Services Committee (HSFC) recently cast votes on a resolution aimed at nullifying a guideline from the United States Securities and Exchange Commission (SEC), which has been a barrier for banks wishing to engage in cryptocurrency custody services.…

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sec custody services committee house commission exchange

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Источник: btcmanager.com

sec custody → Результатов: 111

Finance groups urge SEC to revise crypto custody accounting rules

Financial advocacy organizations are urging the SEC to amend current accounting rules that increase the financial burden on American banks managing crypto assets for clients.

2024-2-16 00:46	SEC
rules financial crypto accounting sec burden clients

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Coinbase vs. SEC: potential impact of a spot Bitcoin ETF approval

The legal fight between SEC and exchange Coinbase appears overlooked as markets stare at the January 10 deadline for spot Bitcoin exchange-traded fund approval deadline. Meanwhile, an ETF authorization might see Coinbase cementing its market relevancy by offering custody and trading services to leading financial institutions, including BlackRock and Grayscale. SEC vs. Coinbase legal battle […]

2024-1-10 11:36
coinbase sec legal etf deadline approval bitcoin

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BitGo CEO says SEC could reject Bitcoin ETF applications because of Coinbase

BitGo CEO Mike Belshe has expressed scepticism regarding the approval of spot Bitcoin ETF applications by the US Securities and Exchange Commission (SEC). Belshe’s concerns centre on the integration of exchanges and custody services in the crypto industry.

2023-11-18 20:35
ceo bitgo belshe applications etf sec bitcoin

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US Congress members urge financial authorities to invalidate SEC’s SAB 121

In a memo, Congress members state that Federal banking agencies should not require financial institutions providing custody services for digital assets to maintain capital against the assets.

2023-11-17 15:07	Law
financial members congress assets custody providing require

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Blackrock's spot Ethereum (ETH) ETF application goes to the SEC

Blackrock's spot Ethereum ETF plan sees development with an S1 filing The firm has chosen Coinbase Custody as the custodian for its spot ETF ETF Investment management giant - Blackrock's spoThe post Blackrock's spot Ethereum (ETH) ETF application goes to the SEC appeared first on AMBCrypto.

2023-11-16 15:07	News
etf blackrock spot ethereum sec eth application

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What an SEC Proposal Means for RIAs in Crypto

The SEC’s Custody Rule requiring advisors to safeguard digital assets has big implications for advisors working in the crypto industry, says Nathan McCauley, CEO and Co-Founder of Anchorage Digital.

2023-11-16 19:45
crypto advisors digital sec says industry working

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SEC’s Gensler taken to task over crypto custody guidance again in House hearing

The SEC’s controversial Staff Accounting Bulletin 121 has received much criticism since its publication in March 2022.

2023-9-28 23:31	United States
sec 121 bulletin accounting controversial staff publication

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SEC and Binance.US in legal dispute over customer asset management

The U.S. Securities and Exchange Commission (SEC) and Binance.US, operated by BAM, are embroiled in a legal dispute concerning the handling and custody of customer assets, with both parties scheduled for a crucial hearing on Oct. 12. At the heart…

2023-9-20 20:27	SEC
binance sec dispute customer legal scheduled parties

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Binance CEO CZ Contradicts His Own Lawyers

Binance CEO denies SEC claims that its US arm improperly used overseas Ceffu custody, contradicting past statements by his own attorneys.

2023-9-20 19:50	News
binance own ceo ceffu overseas used custody

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Changpeng Zhao denies Binance.US ever used Ceffu to custody funds, contradicting court filings

Binance CEO Changpeng Zhao (CZ) has denied that its U. S. subsidiary, Binance. US, ever used Ceffu or Binance Custody for custodial services. Zhao made this statement in response to the Securities and Exchange Commission’s (SEC) request to investigate potential fund movement violations by the embattled subsidiary of his exchange.

2023-9-20 19:40	Changpeng Zhao
binance zhao exchange changpeng subsidiary custody ever

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SEC Rips Into Binance.US Over 'Shaky' Asset Custody, Asks Court to Order Inspection

The regulator asked a U.S. court to reject Binance's "half-hearted" objections to its motion seeking depositions, an inspection and communication from the exchange.

2023-9-19 19:02	SEC
inspection court binance motion seeking objections half-hearted

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SEC accuses Binance US of hampering securities violation probe

The U.S. Securities and Exchange Commission (SEC) has accused Binance US of non-cooperation in a probe into alleged federal securities law violations. The SEC has raised concerns over using Ceffu, a custody service facilitated by the international arm of Binance.…

2023-9-15 14:37	SEC
sec securities binance probe ceffu concerns raised

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Binance.US Not Playing Ball With Probe, SEC Says, as Focus Turns to Custody Arm Ceffu

Securities regulators have complained the exchange is unregistered, and worry about assets being shifted overseas.

2023-9-15 09:32	Securities and Exchange Commission
exchange complained regulators unregistered shifted overseas being

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SEC Rules Are Preventing Major Banks From Offering Crypto Custody Services – Here’s How

The market capitalization of the virtual currency industry has surpassed the $1 trillion mark. Still, leading U. S. banks are barred from getting any skin in the game by the country’s securities watchdog.

2023-8-3 20:02	SEC
banks barred surpassed leading still getting trillion

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US committee passes crypto custody bill as Chancer presale accelerates

The US House Financial Services Committee has passed the “Keep Your Coins Act of 2023,” a significant piece of legislation for the cryptocurrency industry in the United States. The bill comes at a time when the US SEC has sustained an onslaught on crypto firms, including large companies like Binance and Coinbase.

2023-7-30 14:07	USA
committee bill crypto time when sec comes

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BNY Mellon’s crypto custody venture runs afoul of SEC rules

The Bank of New York Mellon’s (BNY Mellon) foray into the digital asset custody business has hit a regulatory hurdle, per American Banker. It emerged that the Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin 121 (SAB 121) requires custodians of digital assets to record those assets on their balance sheets.

2023-6-30 19:15	Regulation
mellon 121 bny sec digital assets custody

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New exchange EDX reportedly switching out Paxos’ custody services for Anchorage’s

The new exchange does not custody customer funds itself to avoid a conflict of interest — and a hot-button issue with the SEC.

2023-6-28 23:31	Paxos
new custody exchange itself customer does avoid

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BlackRock Bitcoin ETF: Good Or Bad? What Are The Chances? Experts React

The rumor has come true: The world’s largest asset manager, BlackRock, has filed a Bitcoin spot ETF application with the US Securities and Exchange Commission (SEC). For custody and market price data, BlackRock is choosing Coinbase, despite the SEC lawsuit.

2023-6-16 09:30	ETF
blackrock sec bitcoin etf commission securities exchange

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US Congressmen urge SEC to keep definition of ‘qualified custodian’ unchanged

Congressmen Michael Flood and Ritchie Torres wrote to SEC Chair Gary Gensler, urging him to keep custody rules unchanged. In February, the U. S. Securities and Exchange Commission (SEC) proposed specific changes to the Investment Advisors Act 1940.

2023-5-26 11:18	Regulation
sec keep unchanged congressmen securities exchange february

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Prometheum subsidiary receives FINRA approval for digital asset qualified custody

The approval marks the first time a digital asset custody provider has come under federal regulation as the SEC tightens custody rules.

2023-5-23 20:15	Wall Street
custody asset approval digital federal under come

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Where the SEC’s Proposed Custody Rule Comes Up Short for Crypto

Financial advisors looking for clarity on crypto and digital assets from the SEC’s proposed changes to Custody Rule 206(4)-2 won’t get everything they want.

2023-5-20 18:17	Analysis
crypto custody rule sec proposed 206 changes

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SEC under fire for its custody rule: Law Decoded, May 8–15

Last week was harsh for the United States Securities Exchange Commission, with industry figures and officials publicly criticizing the regulator.

2023-5-15 17:27	Terra
commission united exchange securities states figures criticizing

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US House financial committee tells SEC they don’t like custody proposal

The letter criticizes the proposed rule for its impact on the banking industry, particularly in ways that would be disadvantageous to the digital asset industry.

2023-5-12 01:30	Digital Asset
industry particularly banking impact ways digital asset

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SEC faces criticism from five investment firms over custody rule proposal

Bain Capital Crypto and other prominent investment firms voice concerns over the proposed SEC custody rule change.

2023-5-11 20:23	United States
custody rule sec investment firms voice prominent

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SEC Blasted on Custody Proposal by JPMorgan, Crypto Firms and a Fellow Agency

The U. S. Securities and Exchange Commission (SEC) went too far when it proposed a new rule demanding investment firms safeguard all of their clients’ assets – including crypto – with approved custodians, according to an array of critics not often in alignment.

2023-5-10 00:34	CFTC
firms sec crypto assets clients safeguard all

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Coinbase’s Paul Grewal says SEC proposed custody rule ‘unnecessarily singles out crypto’

Coinbase Chief Legal Officer Paul Grewal spoke up against the U. S. Securities and Exchange Commission’s proposed revisions to federal custody requirements that require registered investment advisers (RIAs) to hold client assets at qualified custodians.

2023-5-9 19:46	Regulation
proposed coinbase custody paul grewal require registered

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Coinbase legal chief sends letter to SEC on RIA rulemaking

Coinbase’s chief legal officer requests revisions to the SEC’s RIA custody rule to safeguard all asset classes, including cryptocurrencies, criticizing the rule for unfairly targeting crypto.

2023-5-10 12:43
sec ria coinbase rule chief legal classes

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Blockchain Association objects to SEC’s proposed custody rule change

The Blockchain Association said May 8 that it objects to a custody rule change proposed by the U. S. Securities and Exchange Commission (SEC). Industry group objects to SEC proposal Marisa Tashman Coppel, Policy Counsel for the Blockchain Association, warned that the SEC’s rule change could “drastically curtail” crypto investment.

2023-5-9 03:17	Regulation
sec rule blockchain change objects association proposed

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U.S. Lawmakers Argue SEC Accounting Policy Undermines Safe Crypto Custody

Rep. Patrick McHenry, chairman of the House Financial Services Committee, and Sen. Cynthia Lummis teamed up on a letter questioning regulators about crypto accounting policy.

2023-3-3 02:39
policy accounting crypto cynthia lummis sen committee

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Gensler says crypto trading, lending platforms not fit for custody; suggests adoption of new safeguarding rule

Speaking before the Investor Advisory Committee, SEC Chair Gary Gensler said current custody rules do not adequately safeguard users’ crypto assets. The post Gensler says crypto trading, lending platforms not fit for custody; suggests adoption of new safeguarding rule appeared first on CryptoSlate.

2023-3-2 20:37	Regulation
custody crypto gensler adoption rule suggests safeguarding

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SEC subpoena targets Robinhood’s crypto business

Financial services company Robinhood Markets received a subpoena from the U.S. Securities and Exchange Commission (SEC) regarding the company's crypto custody services.

2023-3-1 17:59	SEC
services company sec crypto robinhood subpoena exchange

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Robinhood is under investigation by the US SEC for its crypto activities

Robinhood Markets Inc. disclosed investigation by the SEC in its most recent 10-K filing with the SEC Robinhood has listed a number of cryptocurrencies and also offers crypto custody and trading services.

2023-2-28 16:29	SEC
robinhood sec crypto investigation number services listed

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Robinhood’s Crypto Business Under Fire from SEC

Robinhood has disclosed that it received an investigative subpoena from the SEC in December 2022 requesting information on its cryptocurrency listings, custody of cryptocurrencies, and platform operations

2023-2-28 09:01
sec robinhood information 2022 requesting cryptocurrency custody

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Robinhood subpoenaed by SEC over crypto listings and custody

The firm said it received an investigative subpoena in December regarding its crypto listings, crypto custody and platform operations.

2023-2-28 01:57
crypto custody listings subpoena investigative december operations

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Circle CEO believes the SEC has it all wrong on stablecoins

Circle CEO, Jeremy Allaire, believes the SEC is not the right fit to regulate stablecoins. Jeremy who supports the new custody proposal, believes banks should regulate them instead.

2023-2-25 14:25	SEC
believes stablecoins circle jeremy sec regulate ceo

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Crypto Regulatory Initiatives Show SEC’s Dominance Among US Regulators: JPMorgan

JPMorgan foresees more regulatory actions on stablecoin issuers, custody and protection of investors’ digital assets and on the unbundling of crypto services, the report said.

2023-2-24 15:02	УС
crypto jpmorgan regulatory digital investors initiatives protection

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Tyler Winklevoss: US SEC proposed rules recognize Gemini crypto custody platform

Tyler Winklevoss, the co-founder of Gemini, a cryptocurrency exchange, in a tweet, claims that their crypto custody service is recognized by the United States Securities and Exchange Commission (SEC).

2023-2-19 22:44	Gemini
crypto tyler exchange gemini custody winklevoss sec

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Coinbase Supports SEC’s Proposed Crypto Custody Rules, But Not Everyone Is Happy

The U.S. Securities and Exchange Commission (SEC) has proposed introducing rules to address how investment advisers safeguard client crypto assets. According to a Wednesday statement, the SEC plans to ask Congress to broaden its oversight mandate under the current investment adviser custody rule beyond client funds and securities to include “any client assets”. This means […]

2023-2-18 23:47	Ethereum News
client sec securities investment assets crypto custody

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Bernstein: SEC Tightening of Crypto Regulations Is not an Existential Threat

Some in the industry had expressed concerns that crypto was actively being removed from the banking system with an attack on stablecoins and custody rules, the report said.

2023-2-17 13:18
crypto actively system being banking removed rules

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Bernstein: SEC Tightening of Crypto Regulations Is Not an Existential Threat

Some in the industry had expressed concerns that crypto was actively being removed from the banking system with an attack on stablecoins and custody rules, the report said.

2023-2-18 13:18
crypto actively system being banking removed rules

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Coinbase Hits Back at SEC’s Crypto Custody Proposal

Paul Grewal, the company’s chief legal officer, took to Twitter to announce that Coinbase Custody Trust Co. is currently a qualified custodian and will remain so

2023-2-16 23:51
custody coinbase trust twitter announce qualified remain

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SEC Probing Investment Advisers Over Crypto Custody: Report

The United States Securities and Exchange Commission (SEC) is conducting an inquiry into registered investment advisers about whether they are following rules around custody of client crypto assets.

2023-1-27 10:11	policy
custody sec advisers crypto investment whether registered

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Thailand SEC Issues Regulations for Crypto Custody Providers

The regulations offer policy guidance regarding the management of digital wallets and keys.

2023-1-19 14:53	policy
regulations management regarding wallets keys guidance digital

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SEC of Thailand issues crypto custody provider rules

The Thai securities regulator now requires crypto custodians to have a contingency plan in case of unforeseen events.

2023-1-17 13:20	Wallet
crypto custodians requires regulator securities plan unforeseen

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Former SEC Chair Discusses SBF’s Options To Avoid Life In Prison

The founder and former CEO of failed crypto exchange FTX, Sam Bankman-Fried (SBF), stirred controversy one more time. Following his extradition from the Bahamas to the United States, the crypto company founder was released into the custody of his parents.

2022-12-28 04:00	SEC
crypto founder former sbf time extradition following

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Crypto Market Forecast: Week of September 26th 2022

A curated weekly summary of forward-focused crypto news that matters. This week, generationally high-interest rates turn investors away from risk markets, the SEC and Ripple Labs legal battle appears to be approaching an endgame, and Nasdaq launches a cryptocurrency custody service.

2022-9-27 14:01	BNC insights
week crypto battle labs legal ripple markets

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Reuters reports major US banks pausing crypto lending plans amid challenging SEC guidelines

The US Securities and Exchange Commission (SEC) guidance on crypto custody might impede banks from the industry because of the cost of implementation, Reuters reported on September 16. The post Reuters reports major US banks pausing crypto lending plans amid challenging SEC guidelines appeared first on CryptoSlate.

2022-9-17 19:00	УС
crypto sec banks reuters challenging guidelines amid

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SEC's Crypto Guidance Pushes US Banks to Rethink Custody Projects: Report

The guidance suggests that customers' crypto assets should be treated as liabilities by lenders, which could be "prohibitively costly" for banks.

2022-9-16 13:45	policy
banks guidance crypto liabilities treated lenders could

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Credit Suisse Held $31M in ‘Digital Assets’ for Clients Last Quarter

The storied Swiss bank disclosed its custody of what are more likely to be tokenized securities than cryptocurrencies in keeping with SEC accounting guidance.

2022-8-31 20:36	Business
tokenized likely securities accounting guidance sec cryptocurrencies

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New stablecoins law proposed in US — but what are the pros and cons?

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US senators cracking down on crypto use in child abuse trade

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US senators to unveil bipartisan stablecoin legislation

Senator Kirsten Gillibrand revealed ongoing discussions about forthcoming stablecoin regulation

2024-3-1 11:19

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