SEC continues to provide crypto *clarity*…
Proposes new framework for custody of crypto assets by investment advisors & funds.
Would permit crypto assets to be held in self-custody under certain circumstances & allow use of state trust companies as custodians for client & regulated fund crypto assets.
SEC Chair Atkins: “More regulatory proposals are on the horizon.”
Moving quickly & aggressively.
Like I said, some politicians are going to wish they passed Clarity Act.
🚨🚨 National Fraternal Order of Police Endorse Clarity Act
“…. the FOP's initial concerns have been satisfactorily addressed and we look forward to working with you to get the amended bill passed.”
Welcome to another week of crypto building w/out constraints of Clarity Act…
SEC & CFTC already guiding the way.
Two years to upgrade financial system.
If last week is any indication, the politicians who voted against Clarity will be paying w/ stablecoins & trading tokenized stocks in 2028.
Crypto absorbed a Fed hike, a BOJ hike, and a setback for the CLARITY Act… then rallied.
A market absorbing bad news without breaking tells you something.
SEC out here providing crypto clarity on a Friday afternoon a week after Clarity Act failed…
Regulators moving quickly & aggressively.
Politicians will catch up at some point, when it suits them.
Strong case to be made this was biggest week in crypto history…
*Despite* Clarity Act failing.
The two most important regulators in SEC & CFTC have clearly & resoundingly messaged their support for crypto innovation.
That would have been absolutely unheard of 2 or 3 years ago.
As a matter of fact, you previously might have been prosecuted for pursuing crypto innovation in good faith.
There’s now a legitimate window opening for the industry to build in public & show its value.
Now’s the time.