SEC Chair Gensler Casts Doubt on Crypto Exchanges' Ability to Meet "Qualified Custodian" Standards – Here's Why
Crypto exchanges likely do not meet the requirements expected of a qualified custodian, Securities and Exchange Commission (SEC) chair Gary Gensler has said. Gensler said the fact that exchanges cannot be considered cust...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Gensler said the fact that exchanges cannot be considered custodians in the legal sense has become clearer as more information has emerged about how these companies operate. He also stressed that this fact doesn’t change even though an exchange or crypto trading platform may refer to itself as a custodian....
Read More: SEC Chair Gensler Casts Doubt on Crypto Exchanges' Ability to Meet "Qualified Custodian" Standards – Here's Why
Why this matters
This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptonewsRelated market context
Moscow Exchange plans to launch Bitcoin, Ethereum perpetual futures next month
MOEX's crypto futures expansion could enhance Russia's financial infrastructure, offering regulated crypto exposure and potentiall...
Russia limits crypto to 25% in exchanges’ capital calculations
Russia's crypto cap could stabilize financial markets by limiting volatility exposure, but firms must adapt quickly to new complia...
Cboe pushes for 3x Bitcoin and Ethereum ETFs after 2x crypto funds suffer losses of up to 96%
Cboe BZX is asking the Securities and Exchange Commission (SEC) for an exception to its own generic listing rules so it can list f...
Bitcoin Supply Squeeze Unwinds as 28,000 BTC Return to Exchanges
Bitcoin exchange balances have recovered 84% of a six-week decline, weakening claims that ETF demand is creating an immediate shor...
Bitcoin Price Prediction: BTC AI Trade Driving BTC Forecasts
Bitcoin price prediction shows it trading at $62,800, down -1.4% on the day, holding a range that’s frustrated bulls and bears ali...
Half of Aave’s debt sits in just 9% of positions built around one Ethereum correlation trade
Galaxy's Aug. 7 snapshot of Aave V3 Core found 19,073 loans on the protocol after applying standard filters. Fewer than 9% of thos...