Vice Chairman @coinbase; fmr GC Citadel Securities, SEC Senior Advisor, White House Atty | law, politics, crypto & Duke bball (not necessarily in that order)
Day by day, the regulatory fog is lifting.
The wheels of progress aren’t just turning - they’re accelerating.
Another important step forward from @SECPaulSAtkins and @SECGov.
Since the advent of Bitcoin in 2008, the crypto asset market has grown from a niche curiosity into a multi-trillion-dollar asset class to which investors actively seek exposure. Unfortunately, our rules and regulations have not kept pace.
To that end, today’s proposal would provide a clear regulatory framework for the custody of crypto assets, giving investment advisers and funds a compliant pathway where none existed before—and replacing the grey of uncertainty created by custody rules crafted for a bygone era.