Summary
- The U.S. Securities and Exchange Commission (SEC) has officially abolished the '3b-16' rule, which regulated crypto asset custody and decentralized finance (DeFi) platforms as national securities exchanges.
- The SEC stated that, simultaneously with the expanded announcement of the custody rule covering all customer assets including crypto assets, it announced the repeal of the relevant rule.
- This move signifies a regulatory policy shift from the Gensler era, and it highlights the need to monitor changes in the regulatory environment for crypto assets in the market.
The U.S. Securities and Exchange Commission (SEC) has officially abolished the so-called '3b-16' rule, a proposal that allowed the regulation of crypto asset (cryptocurrency) custody and decentralized finance (DeFi) platforms as national securities exchanges.
On the 13th (local time), Eleanor Terrett, host at CryptoAmerica, reported via her X (formerly Twitter) account, "With the announcement of an expanded crypto asset custody rule encompassing all customer assets including digital assets, the SEC has officially announced the abolition of the 3b-16 rule and similar regulations from the Gensler era."
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