Why the Newly Proposed Custody Role Could Represent a De Facto Ban on Crypto
The Breakdown
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The SEC Proposed Rule Will Impact Crypto Firms
The SEC is proposing a modification to the custody rule that impacts crypto. This seems like a not particularly subtle, but ultimately roundabout way to shadow ban crypto from interacting with any sort of traditional financial structure. The outcome of the policy will ultimately be determined by how restrictive they are in issuing registrations. Once again, only the biggest players can compete.
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