The SEC is reconsidering a rule that would impose stricter custody requirements on investment advisers holding crypto and other assets. This rule, initially supported by former SEC Chair Gary Gensler, aimed to protect investors but is now being reevaluated due to concerns over its broad scope and potential negative impacts on the crypto industry. The SEC is also revisiting a rule requiring mutual and ETFs to report monthly holdings instead of quarterly, in order to address compliance costs and risks associated with data analysis. Uyeda emphasized the need to align regulatory measures with statutory authority and reduce regulatory burdens on small entities.
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