Ex-SEC Counsel Anticipates Token Classifications and Custody Guidance Soon
Former SEC senior counsel Adrienne Gurley discussed the SEC's potential direction regarding crypto ETF proposals and regulatory priorities. Key points include:
- Expectations for token classification guidance and revisions to custody rules.
- Upcoming deadlines from President Trump's executive order:
- Feb. 22: Agencies to identify regulations affecting digital assets.
- March 24: Agencies to submit recommendations.
- July 22: Working group to report to the president.
- Clear guidance is anticipated to boost market confidence and innovation.
- Galaxy Digital predicts traditional banks will start offering crypto custody and trading services, leading to self-custodial neobanks.
- Top custody banks may safeguard digital assets, potentially allowing spot bitcoin and ether ETFs for in-kind transactions.
- SEC will prioritize fraud cases over registration violations following court criticism of its enforcement approach.