SEC Don Komot New FAQ For Crypto Asset Regulation: Explain Broker-Dealer Custody, Investor Protection, And If Blockchain Transfer Agent Legal
Di U.S. Securities and Exchange Commission (SEC) don comot one updated FAQ wey give guide about how dem dey regulate crypto assets and distributed ledger technology (DLT). Dis guide, wey be like wetin SEC staff dem see but no follow law, don answer important questions for crypto traders and people wey dey do business for the industry. Important updates don make am clear say as broker-dealers suppose handle crypto asset custody, especially say na only crypto assets wey dem call 'securities' unda U.S. law get Securities Investor Protection Corporation (SIPC) insurance if broker pafuka. Popular cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), wey dem call non-securities, no get SIPC protection, and dis one make am riskier for people wey hold dem if brokers no get money again. The FAQ still agree say blockchain technology fit be transfer agent record keeping system legally, as long as dem maintain rules for compliance, security, and accuracy. But, the way dem dey give exemption for security tokens – for example, the Special Purpose Broker-Dealer (SPBD) framework – na for small time and e no fit replace permanent rules. Commissioner Hester Peirce no happy with the FAQ, e talk say e just small small change and e need bigger change, say e no cover all the risks and protection for digital assets. For crypto traders, dis guide show say many digital assets still dey outside the investor protection wey don dey before, and SEC dey slowly change how dem work. The way regulation dey change and how politics dey shift fit really affect how crypto trading platforms, ETF issuers, custodians, and investors must follow rules and how dem go operate for the market.
Neutral
SEC own update for dem frequently asked questions don give clear ground about regulation but e no bring new safety for investors or quick quick change for big crypto like Bitcoin and Ethereum. As dem confirm say plenty crypto like BTC and ETH no get protection from SIPC, and say the exception dem give for security tokens just for small time, the guide just maintain how e dey before. E dey stress say na high risk for people wey hold digital assets wey no be security and e show say regulation go dey change small small, no be sudden change for policy. Based on this, the news no too go cause big kasala for price for short time, but e fit affect how institution dem go adopt crypto for long time and how market go set. Overall, the effect on crypto market look like e no get side, and dem advise traders make dem still careful as regulation still dey grow.