White House begins review of SEC crypto broker-dealer rule proposal
CIE News ·
Based on reporting by CoinGape; not yet independently confirmed.
The White House OIRA has started reviewing a proposed SEC rule to update net capital, asset protection, and recordkeeping standards for crypto broker-dealers, according to CoinGape.
The U.S. Office of Management and Budget and its Office of Information and Regulatory Affairs have started reviewing a proposed SEC rulemaking, identified as 3235-AN48, according to CoinGape. The proposal includes amendments to Exchange Act Rules 15c3-1, 15c3-3, 17a-3, and 17a-4 to update net capital, customer asset protection, and recordkeeping standards for firms handling digital asset securities. An SEC spokesperson stated that the agency aims to clarify financial responsibility frameworks for crypto broker-dealers. The measure is classified by OIRA as economically significant and is awaiting clearance alongside a separate CFTC proposal on prediction market customer safeguards.
Key facts
- Rule ID: 3235-AN48
- Under OMB and OIRA review
- Economically significant measure
- Exchange Act rules targeted