The US SEC Releases Cryptocurrency Custody Guidelines, Shifting from "Enforcement Crackdown" to "Investor Education"

This Friday, the U.S. Securities and Exchange Commission (SEC) issued a cryptocurrency custody guide aimed at providing investors with an objective and neutral "introductory manual" on secure cryptocurrency storage.

The guide specifically reminds investors to carefully review key policies when choosing third-party custody services, such as whether the custodian will "re-hypothecate" client assets to earn profits, and whether client assets are commingled rather than held in segregated accounts. These policies are closely related to asset security and recourse, and are vital for investors.

Additionally, the guide details the advantages and inherent risks of hot wallets (online) and cold wallets (offline). It points out that hot wallets mainly face cyberattack threats, while cold wallets carry risks such as physical device damage, loss, or improper private key management, which could lead to permanent asset loss.

The reason this guide has attracted significant industry attention is because it contrasts sharply with the generally hostile and "enforcement-based" stance toward the cryptocurrency industry during former Chair Gary Gensler's leadership.

Industry observers widely interpret this as SEC Chairman Paul Atkins attempting to shift from the previous "crackdowner" to a "rulemaker" and now to an "investor educator." The crypto community welcomes this change, seeing the SEC as having transformed from a former suppressor into a current market educator.

Notably, just the day before, the SEC approved a pilot program for the tokenization of financial assets by U.S. custodial trust and settlement companies, covering stocks, ETFs, and government bonds.

In summary, these two consecutive days of actions indicate that the U.S. top securities regulator is adjusting its strategy, integrating crypto assets and technology into the traditional regulatory framework, signaling that U.S. crypto regulation may enter a new phase focused on clearer rules.

Overall, the SEC's release of this neutral custody guide not only provides valuable guidance for investors but also signals that U.S. crypto regulation is moving toward a more transparent and standardized direction.

#SEC加密货币托管指南 #Investor Education