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The SEC on Wednesday announced a new proposal requiring all crypto assets held for U.S. customers be housing with a "qualified custodian" in the wake of the FTX debacle, among other crypto failure ...
The crypto industry and crypto-friendly lawmakers had long objected to the measure, which required companies keeping custody of digital assets on behalf of others to account for them as ...
The SEC rescinded SAB 121 in January, a rule that required banks to classify cryptocurrencies as liabilities on their balance sheet, creating a capital requirement burden that kept many banks from ...
It would place the regulation of crypto assets under the authority of the Commodity Futures Trading Commission, which already regulates the trading of financial derivatives in the United States. [2] The proposed law has bipartisan support. Legislators sponsoring the DCCPA include senators Cory Booker, John Boozman, Debbie Stabenow and John ...
Your broker cannot use the funds in your portfolio. Not legally, at least. While seemingly intuitive, this requirement comes from an SEC regulation known as "the custody rule." It requires that ...
Remember, too, if you sold bitcoin in 2022 during the so-called crypto winter you may have booked a big capital loss and can apply whatever you weren’t able to use on your 2022 taxes on your ...
Markets in Crypto-Assets (MiCA or MiCAR) is a regulation in European Union (EU) law. It is intended to help streamline the adoption of blockchain and distributed ledger technology (DLT) as part of virtual asset regulation in the EU , while protecting users and investors.
In response to rampant crypto fraud and the incredible growth of regulation-skirting decentralized finance (DeFi), U.S. regulators are set to take unprecedented action against the cryptocurrency ...