PANews reported on June 21 that according to Jinshi, SEC Chairman Atkins stated on Monday local time that the current framework allowing brokers to serve as digital asset custodians might need to be abolished and replaced, and revealed that they are considering granting hedge funds the authority to self-custody crypto assets. Currently, only two institutions in the United States have obtained the "Special Purpose Broker-Dealer" license. Atkins pointed out at the digital asset roundtable that this low response stems from "significant restrictions" set by the previous government. He emphasized: "Broker-dealers have never been prohibited from custodying non-securities crypto assets or crypto securities." However, he also noted that the SEC might need to clarify how customer protection and capital requirements apply to such institutions. Atkins has requested SEC staff to explore developing new paths for crypto regulation, including studying whether to revise custody rules to allow hedge funds, trading companies, and investment advisors to self-custody digital assets.
