U.S. Securities and Exchange Commission: May undergo comprehensive reforms of rules for cryptocurrency brokers.

Chairman of the U.S. Securities and Exchange Commission, Atkins, stated on Monday local time that the current framework allowing brokers to serve as digital asset custodians may need to be repealed and replaced, and revealed that they are considering granting hedge funds the authority to self-custody encrypted assets. Currently, only two institutions in the United States have obtained "special purpose broker-dealer" licenses. Atkins pointed out at the digital asset roundtable that this sluggish response was due to "significant constraints" set by the previous government. He emphasized, "Brokers have never been prohibited from custodying non-securities encrypted assets or encrypted securities." However, he also noted that the SEC may need to clarify how customer protection and capital requirements apply to such institutions. Atkins has asked SEC staff to explore new paths for cryptocurrency regulation, including studying whether to revise custody rules to allow hedge funds, trading companies, and investment advisors to self-custody digital assets.