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.
She said, on behalf of the Blockchain Association:
“The proposed rule deviates from the SEC’s obligation … to take an asset-neutral approach. … Rather than allowing for flexibility … the proposed rule discourages custodians and advisers from offering digital asset-related services. “
Coppel explained that the proposal prevents investment advisers from engaging in self-custody of assets. She said that the new rule could make acting as a qualified custodian unaffordable and could prevent advisers from providing the safest custody possible.
She added that the rule change could restrict certain activities such as staking and trading if those serv
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