Coinbase challenges SEC proposed rule on crypto custody for RIAs as Paul Grewal calls for revisions to safeguard all asset classes.
Coinbase legal chief has requested that the U.S. Securities and Exchange Commission make several revisions to its proposed regulation on the responsibilities of registered investment advisers to store client assets with qualified custodians.
Although the U.S. SEC acknowledges Coinbase Custody as a"qualified custodian," Coinbase contends that the updated RIA custody rule unfairly targets crypto and makes improper assumptions about custodial practices based on securities. According to theCoinbase chief legal officer Paul Grewal sent on May 9, the proposed SEC rulemaking fails to safeguard other asset classes, such as cryptocurrencies.
Coinbase is the owner and operator of Coinbase Custody Trust Company, which is recognized as a qualified custodian for RIA clients. This custodian is responsible for protecting client assets from potential threats such as bankruptcy and cyber-attacks. This letter advocates for an expansion of the custody obligations proposal to ensure that it remains adaptable to future investments and protects them appropriately.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Coinbase CEO says company will stay in U.S. and fight ‘anticrypto’ SEC in courtCoinbase CEO Brian Armstrong said the SEC was engaged in a “lone crusade” to “curtail” the crypto industry, while the regulator indicated that it would likely bring an enforcement action against $COIN for securities-law violations.
Consulte Mais informação »
Coinbase cuddles up to UAE policymakers as US outlook soursCoinbase is bolstering its relationship with UAE regulatory authorities as it faces mounting challenges within the U.S. regulatory landscape.
Consulte Mais informação »
Ripple and SEC: How Much Did Legal Battle Cost for Defendants?Ongoing legal battle between Ripple, blockchain company closely associated with digital currency XRP
Consulte Mais informação »
Coinbase execs visit UAE to test potential of 'strategic hub' for international operationsCoinbase explores potential for UAE to be an international hub for the exchange, discussing with regulators in Abu Dhabi Global Market and Dubai's Virtual Assets Regulatory Authority.
Consulte Mais informação »
Texas president says building relationships priority in SECThe schools will join their new league on July 1, 2024. Oklahoma and Texas will play one season in a 14-team Big 12 that will include new members BYU, Central Florida, Cincinnati and Houston.
Consulte Mais informação »
Defending against SEC to cost Ripple $200M, CEO Brad Garlinghouse saysRipple CEO Brad Garlinghouse revealed that the company expects to spend up to $200 million defending itself against the SEC’s lawsuit.
Consulte Mais informação »