The SEC has officially withdrawn two major crypto-related proposals from the Gensler era, signaling a potential regulatory pivot.
Key Details:
- DeFi Exchange Rule (2023): Would have expanded Exchange Act Rule 3b-16 to cover DeFi platforms, drawing industry pushback.
- Crypto Custody Rule: Sought to impose stricter qualified custodian requirements on investment advisors, risking reduced banking access.
Analysts had warned the rules lacked clarity. Now, the SEC may revisit them with revised frameworks.
