
US lawmaker calls on SEC to repeal crypto custody rule ahead of Senate vote
Bipartisan support grows for repealing the contentious SEC's crypto custody rule, lawmaker claims.
SEC and CFTC actions, state policy, ETFs, startups, and nationwide crypto market trends.

The two firms now rank among the largest IBIT holders.

Adams warned that the administration was ignoring a key issue for many Americans and compared the decision to Hillary Clinton's 2016 campaign strategy.

Major TradFi companies have begun reporting exposure to Bitcoin via MicroStrategy and spot BTC ETFs.

The DOJ had argued that a money transmitting business does not require controlling the funds being transferred.

The lawmaker pointed out that the state missed on a 10,000% gain when it failed to invest in Bitcoin in 2016.

The legislation aims to provide clear regulatory frameworks for digital assets, addressing longstanding issues of market oversight and consumer protection.



