Letters from two influential crypto industry players have detailed the legality, impact and unworkability of a proposal by the SEC to expand its custody rule.
, saying the firm “did not mince words” and called the SEC proposal a “misguided and transparent attempt to wage war on crypto.”
In its letter, the Blockchain Association provided over a dozen separate arguments to rebuff the SEC. Among other claims, it said the rule exceeds the SEC’s authority, would inhibit advisers from transacting with crypto exchanges and would leave investors’ assets at more risk. A16z detailed similar arguments in its letter but focused more on its effects on registered investment advisers, namely that advisors would be prevented from using crypto and the rules could violate the duty of care the SEC requires of such firms.The proposal is another misguided and transparent attempt to wage war on crypto, and if passed it will result in investor harm, market inefficiencies and poor capital formation.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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.
Read more »
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.
Read more »
Ripple's Tussle Against SEC to Cost the Firm $200M, CEO Garlinghouse Says: Report.Ripple's legal battle with SECGov is set to cost the firm $200 million, CEO bgarlinghouse has said. By iamsandali.
Read more »
Ripple: Here's Crypto Lawyer's Insight into SEC-XRP Lawsuit and Its OutcomePro-Ripple lawyer reveals key facts in SEC-XRP lawsuit XRPArmy XRPCommunity XRPHolders $XRP
Read more »
Ripple and SEC: How Much Did Legal Battle Cost for Defendants?Ongoing legal battle between Ripple, blockchain company closely associated with digital currency XRP
Read more »