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The post SEC’s Proposed Custody Rules Spark ‘War on Crypto appeared first on Coinpedia Fintech News
The US securities regulator’s proposal to tighten crypto custody rules was opposed by at least two industry proponents in the recently filed letters. One critic was the Blockchain Association, which submitted a letter to the SEC(Securities Exchange Commission) on May 8, the deadline for comments criticizing the proposal.
a16z(Andreessen Horowitz) a similar letter sent by Web3 venture capital fund, three days prior. Expressing concern that the new rule would greatly limit digital asset investments. A policy lawyer from the Association called the rule ‘unlawful’.
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