Key points of the SEC’s Third Crypto Roundtable focus on custody issues
At the latest roundtable of the Securities and Exchange Commission’s (SEC) Crypto Commission Task Force (SEC), industry leaders gathered to discuss cryptocurrency custody of broker traders and investment advisors.
Ryan Louvar, chief legal officer at WisdomTree and head of business and legal affairs for digital assets, shared his insights, highlighting the SEC’s re-commitment to interact with the cryptocurrency industry.
Highlights of SEC’s encryption roundtable
Louvar described the roundtable as “extremely productive” and noted that the SEC under the new leadership is serious about re-engagement with industry stakeholders. He stressed the importance of practical discussions about how digital assets, blockchain technology and tokenization fit into the current regulatory framework.
According to an event, the event promotes rich dialogue. Report By Eleanor Terret, the hard work of the SEC crypto task force is demonstrated to promote an environment conducive to open communication.
Diversity of perspectives among the panelists reportedly contributed to a constructive atmosphere in which the potential of digital assets is promised to maintain strong investor protection.
One of the most surprising aspects of the roundtable is the willingness of participants to rethink traditions Regulatory assumptionsespecially regarding custody.
Several panelists pointed out that the existing traditional financial instrument custody framework may not be suitable for digital assets maintained on blockchain networks.
Public dialogue on regulatory challenges
Loire stressed that the SEC’s recognition of blockchain’s potential to improve efficiency, transparency and risk management is crucial to the formulation of regulations that not only protect investors but also encourage growth Digital financial products.
Louvar expressed hope that the SEC crypto task force recognizes the feasibility of security and compliance innovation in the digital asset sector. He stressed that adjusting the guardianship structure is not about damaging protection measures, but about applying established principles such as security, isolation, disclosure and fiduciary responsibilities to address the new technological environment.
He believes that thoughtful regulations can promote responsible development Decentralized Finance (Defi) While adhering to the high standards that historically define the U.S. market.
Moving forward, Louvar sees a significant opportunity for the SEC to be in the roundtable. He advocates a phased regulatory approach, starting with targeted guidance and moving towards comprehensive rulemaking to address the specific characteristics of digital assets and blockchain technology.
Key areas of development include clarifying how digital assets fit into existing custody rules and creating structured avenues for responsible Self-customer.
Louvar also mentioned that the New York Department of Financial Services (NYDFS) has set strict regulations that WisdomTree’s New York Trust (NYDFS) is eligible as a “bank” under the current investment advisory custody framework.
Featured images from dall-e, charts from tradingview.com
Editing process For Bitcoin experts, focus on thorough research, accurate and impartial content. We adhere to strict procurement standards and each page is diligently evaluated by our top technical experts and experienced editorial team. This process ensures the integrity, relevance and value of our content to our readers.
