The United States Securities and Exchange Commission (SEC), that paragon of regulatory rigor, has once again surprised the crypto community with a crypto wallet and custody guide investor bulletin. One might think this is a miracle, but alas, it’s just the SEC’s version of philanthropy. 🧠
The SEC’s bulletin, a masterclass in bureaucratic verbosity, lists the benefits and risks of different methods of crypto custody, as if the investing public had never encountered the concept of risk before. 🎯
If investors choose third-party custody, they should understand the custodian’s policies-like whether they’re “rehypothecating” assets or commingling client funds. A delightful game of Russian roulette with the custodian’s policies. 🕵️♂️
Crypto wallet types were also outlined in the SEC guide, which broke down the pros and cons of hot wallets (connected to the internet) and cold wallets (offline storage). A true David vs. Goliath scenario, with the Goliath being cybersecurity. 🔥❄️
Hot wallets carry the risk of hacking, while cold wallets risk permanent loss if the storage fails. A choice between a sword and a dagger, both equally lethal. 🛡️
The SEC’s crypto custody guide highlights the sweeping regulatory change at the agency, which was hostile to digital assets and the crypto industry under former SEC Chairman Gary Gensler’s leadership. A sudden change of heart, or perhaps a change of strategy. 🤡
The crypto community celebrates the SEC guide as a transformational change in the agency
“The same agency that spent years trying to kill the industry is now teaching people how to use it,” Truth For the Commoner (TFTC) said in response to the SEC’s crypto custody guide. A sentiment as genuine as a politician’s promise. 🤝
The SEC is providing “huge value” to crypto investors by educating prospective crypto holders about custody and best practices, according to Jake Claver, the CEO of Digital Ascension Group. A noble endeavor, or perhaps a calculated move. 💸
SEC regulators published the guide one day after SEC Chair Paul Atkins said that the legacy financial system is moving onchain. A step into the future, or perhaps a step back into the past, depending on your perspective. 📈
On Thursday, the SEC gave the green light to the Depository Trust and Clearing Corporation (DTCC), a clearing and settlement company, to begin tokenizing financial assets. A bold move, or just a desperate attempt to stay relevant. 🔄
Read More
- Gold Rate Forecast
- Brent Oil Forecast
- Crypto’s Descent into Madness: Will the Market’s Soul Be Redeemed?
- LINK’s $12 Miracle: Was It Molière’s Finest Farce? 🎭
- XRP CAD PREDICTION. XRP cryptocurrency
- FLR PREDICTION. FLR cryptocurrency
- Trump’s Bitcoin Adventure: The Quest for Crypto Domination in Asia 😲
- Cardano’s Price Prediction: Will It Soar to $2.40 or Just Hover at $0.90? Find Out! 🚀
- Whale Fail: $27M Gone, $12M in Tornado Cash, and Larry’s Still Shaking His Head 😱💸
- INJ PREDICTION. INJ cryptocurrency
2025-12-13 23:30