SEC Revokes Digital Asset Custody Guidance, Potentially Impacting Investment Landscape

The SEC has withdrawn its 2020 guidance on digital asset custody, a move that could significantly impact the industry and investor confidence. The decision, spearheaded by SEC officials Paul Atkins and Mark T. Uyeda, affects broker-dealers as it removes regulatory leeway previously granted for digital securities custody. This withdrawal signifies a significant shift in regulatory landscape for digital asset securities.