SEC Rescinds Crypto Custody Rules: Market Implications and Institutional Opportunities

The U.S. Securities and Exchange Commission (SEC) has taken a decisive step towards easing regulations for cryptocurrencies, effectively withdrawing previous custody rules initiated under former chair Gary Gensler. This move, led by current Chair Paul Atkins, signals an evolving regulatory approach that aims to foster greater market participation from institutions. 🚨 The withdrawal represents a notable shift away from strict oversight under the prior SEC regime, which saw increased scrutiny and uncertainty in the crypto industry. 🛡️ This potential shift towards self-custody and DeFi principles is anticipated to boost institutional confidence in the sector.