Congresspeople ask SEC to verify who can custody security tokens
Several members of the Congressional Blockchain Caucus are calling for more clarity on broker-dealer rules from the U.S. securities regulator. Nine members of congress have written a letter asking the Securities and Exchange Commission to get its security token guidance straightened out.In a Dec. 9 letter to SEC Chairman Jay Clayton, several members of the Congressional Blockchain Caucus led by Tom Emmer (R-MN) asked the commission to verify rules as to which broker-dealers can custody digital securities. Broker-dealer licensing is required to sell securities in the U.S. The letter also....
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In a Christmas present for the crypto industry, broker-dealers who abide by existing rules while holding security tokens in custody will not face enforcement action for the next five years. The U.S. Securities and Exchange Commission is listening.At least, per a Dec. 23 announcement, the SEC is responding to long-term industry complaints that nobody knows who can handle security token trading. The SEC is both requesting comment on the issue and extending a hand to the crypto industry. Perhaps most notably, the commission's announcement will keep broker-dealers safe from enforcement for the....
Multiple United States congresspersons recently expressed their displeasure at the OCC's focus on crypto this year. Brian Brooks, the former Coinbase executive turned leader of the U.S. Office of the Comptroller of the Currency, or OCC, recently received a letter from multiple members of Congress expressing concerns over his crypto-heavy leadership. The letter, from Stephen Lynch and Rashida Tlaib, two congresspeople for Massachusetts and Michigan respectively, also holds signatures from Jesús García, Deb Haaland, Barbara Lee and Ayanna Pressley — representatives from Illinois, New Mexico,....
PRESS RELEASE. LABEL Foundation has announced that it has officially integrated with Binance Custody to take advantage of their highly secure cold storage solution. With this integration, LABEL’s native tokens can be kept safely as the $LBL is now supported by Binance Custody and the tokens are safely stored using their institutional and insured cold storage feature. Moreover, both BEP-20 and ERC-20 are available for deposits as well as withdrawals. If all goes well, the LABEL team hopes to further expand its partnership with the Binance ecosystem in the future as well.
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A new kind of custody could help alleviate issues presented by third-party custody like exchanges and first-party custody like hardware wallets.
PRESS RELEASE. The leading blockchain-based global point integration platform, ASSEMBLE Protocol has announced that its utility token ASM has been added to Coinbase Custody. This means that ASM will receive a cold-storage custody solution from one of the largest custodians in the crypto sphere, Coinbase Custody. Coinbase Custody to provide cold-storage custody support for ASM The support of the ASM on Coinbase Custody has been officially confirmed by the Coinbase Institutional on 3rd May 5 PM PDT, that has been revealed in their Twitter handle. According to their tweet, Coinbase Custody....