In the dusty halls of the U.S. Securities and Exchange Commission, a curious thing is afoot. The powers that be are pondering the unthinkable: rolling back a proposed rule that would have tightened the noose around investment advisors handling the wild, untamed beast known as cryptocurrency. It’s like watching a cat toy with a mouse, only this time, the mouse is a multi-billion-dollar industry. 🐱💸
Acting SEC Chair Mark Uyeda, a man who seems to have a knack for stirring the pot, made this revelation at an industry conference in sunny San Diego. He cited concerns over the rule’s broad scope and the compliance challenges that would make even the most seasoned accountant break into a sweat. According to the ever-reliable Reuters, it seems the SEC is having second thoughts, like a kid who just realized the candy they wanted is actually broccoli. 🥦
This custody rule, which was proposed back in the halcyon days of February 2023 under the Biden administration, would have required registered investment advisors to store crypto assets with a qualified custodian. It was meant to be a safety net, but instead, it felt more like a straitjacket. The additional safeguards were supposed to protect the innocent, but they also raised eyebrows and a few heart rates. 😅
Uyeda, in a moment of rare candor, acknowledged that the public feedback was less than enthusiastic. It was as if the crowd had collectively decided to throw tomatoes at the stage, prompting the agency to consider alternative approaches. Who knew that the crypto crowd could be so vocal? 🍅
ETF to report monthly portfolio holdings
But wait, there’s more! Uyeda also hinted at a separate rule that would require mutual funds and exchange-traded funds to report their portfolio holdings monthly instead of quarterly. Because who doesn’t love a good surprise every month? 🎁
This regulation, adopted in the balmy days of August 2023, was intended to enhance transparency. However, the industry feedback was akin to a chorus of disgruntled cats, particularly regarding the role of artificial intelligence in trading strategies. It seems that even the robots are getting a say in this circus. 🤖
These regulatory gymnastics reflect a broader shift in SEC policy, reminiscent of a game of musical chairs under the Trump administration. Several crypto-related initiatives introduced under former Chair Gary Gensler have been tossed aside like last week’s leftovers. The SEC has recently rescinded accounting guidance for crypto firms, dropped enforcement actions against industry players, and even established a crypto task force to assess regulatory priorities. It’s like watching a soap opera, but with more spreadsheets. 📊
With former SEC Commissioner Paul Atkins poised to take the helm, Uyeda’s push for regulatory revisions signals a more industry-friendly stance. It’s as if the SEC is saying, “Hey, we’re not the bad guys here!”—especially toward digital assets and financial institutions that have been sweating bullets over stringent compliance demands. Who knew that the world of finance could be so dramatic? 🎭
Read More
- Cookie Run Kingdom Town Square Vault password
- Pi Network’s Grand Migration: 10 Million and Counting!
- Maiden Academy tier list
- Cuddly Cats Take Over in the Wildest Night of the Living Dead Remake!
- Kingdom Come Deliverance 2: Lion’s Crest DLC Quest Guide
- After The Odyssey’s First Look At Matt Damon’s Odysseus, Fans Think They’ve Figured Out Who Tom Holland Is Playing
- Former ‘Bachelorette’ Star Katie Thurston Reveals Breast Cancer Diagnosis: “Waiting on Learning What Stage”
- Rick Owens Gives RIMOWA’s Cabin Roller a Bronze Patina
- Nicky Campbell, Rising Fashion Influencer, Inks With The Jeffries for Management
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
2025-03-17 23:01