The Securities and Exchange Commission voted 4-1 on Wednesday to propose sweeping changes to federal regulations that would expand custody rules to include assets like crypto and require companies to gain or maintain registration in order to hold those customer assets.
The broader crypto market flipped red Thursday amid more news of U.S. authorities turning their attention to the industry.
Federal Reserve Governor Christopher Waller said Friday he views crypto as a speculative asset that’s worth whatever the next person is willing to pay for it and says he, personally, wouldn’t hold it.
Two Sigma Ventures led the round for the decentralized exchange.
A year ago, crypto successfully scraped and scrapped to get a foot in the door in Washington. But in the wake of crypto’s winter, and FTX’s spectacular collapse, that door has now slammed shut.
The Biden administration released a new roadmap to “mitigate cryptocurrencies’ risks” on January 27th, and the same day the Board of Governors of the Federal Reserve System announced the decision to deny cryptocurrency-friendly Custodia Bank membership in the Federal Reserve System.
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