SEC Rescinds Gensler-Era DeFi, Crypto Custody Rules in Major Shift

SEC Rescinds Gensler-Era DeFi, Crypto Custody Rules in Major Shift

A significant change in the SEC's stance on digital assets and decentralized finance (DeFi) has been signaled by the public retraction of several regulatory proposals that were put forth under the direction of former Chair Gary Gensler. A series of official notices detailing the withdrawals were released on Thursday. The contentious April 2023 modification to Exchange Act Rule 3b-16, which attempted to reinterpret the phrase "exchange" t...

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