Treasury officially withdrew a rule first proposed under the Trump Administration that would have expanded Bank Secrecy Act reporting requirements to transactions involving crypto and self-custody wallets. Prometheum Capital, a FINRA approved special purpose broker dealer, told Coin Desk that it plans to custody UNI and ARB for customers, despite regulatory guidance from the SEC suggesting that SPBDs may only custody digital assets that are securities and no clear legal indication that UNI and ARB are securities. On the election front, Brian Nelson, a campaign advisor to VP Harris, told Bloomberg News that Harris “is going to support policies that ensure that emerging technology and that sort of industry can continue to grow,” when asked about the VP’s engagement with the crypto community. Meanwhile, Senator Tim Scott (R-SC) made the case for a Republican majority in the Senate, vowing to establish a digital asset subcommittee within Senate Banking if Republicans control the Senate and he becomes Chairman next congress.
Advanced AI Digests with all of the features in Lite plus Key Developments for major protocol changes
