Blockchain Association Reacts to Proposed SEC Custody Rule

NOTE: The following statement has been updated since its initial release.

Washington, D.C. (Feb. 15, 2023) – The following statement is attributed to Kristin Smith, Blockchain Association CEO: 

“Today’s vote by the SEC to propose updated custody rules would severely restrict or prohibit American investors from funding American crypto companies and investing in digital assets, a result that directly violates the SEC’s mission by making investors less safe and discouraging capital formation. Blockchain Association – on behalf of our nearly 100 member companies – plans to respond during the open comment period, arguing why this proposed rule is bad policy and should be rewritten.”