U.S. SEC announces cryptocurrency wallet and custody guide…"Signals shift in stance"

The U.S. Securities and Exchange Commission (SEC) has issued a guide related to cryptocurrency wallets and custody.

On the 14th, industry sources said the SEC on the 12th published an investor bulletin that defines and introduces cryptocurrency wallets and custody services. The SEC said, "(The bulletin) is intended to help individual investors understand the various ways to hold cryptocurrency assets," and explained that "it presents tips and questions to help determine the optimal (cryptocurrency) holding method."

Through the bulletin, the SEC introduced the advantages and disadvantages of cryptocurrency wallets and custody. Cointelegraph reported, "This SEC guide shows that it is moving away from the hostile stance toward the cryptocurrency and digital asset industry that prevailed during former chair Gary Gensler's tenure."

The SEC recently also stated that "the U.S. financial market is ready to move on-chain." SEC Commissioner Paul Atkins said on the 11th, "The on-chain market will provide investors with greater predictability, transparency, and efficiency," adding, "If the transfer and settlement of securities occur on a blockchain, the very structure of capital markets could change."