SEC’s Upcoming Roundtable to Delve into Cryptocurrency Custody with Industry Experts
The US Securities and Exchange Commission (SEC) has announced that industry insiders from Kraken, Exodus, Anchorage Digital, and others will participate in its crypto task force’s roundtable discussion on custody. In an April 16 notice, the SEC mentioned that commissioners Hester Peirce and Caroline Crenshaw, acting chair Mark Uyeda, and crypto task force Chief of Staff Richard Gabbert will be in attendance. They will be joined by Mark Greenberg, vice president of consumer business and product at Kraken, Rachel Anderika, Chief Risk Officer at Anchorage Digital Bank, and Veronica McGregor, Chief Legal Officer at Exodus. Representatives from WisdomTree, Fidelity Digital Asset Services, and Fireblocks will also be present.
“It is important for the SEC to grapple with custody issues, which are among the most challenging as we aim to integrate crypto assets into our regulatory structure,” Peirce stated, leading the SEC task force.
Notably, though Uyeda was listed as acting chair of the commission for the April 25 event, the US Senate confirmed Paul Atkins as the new head of the regulatory body on April 9. It remains unclear when Atkins will officially take office, as the SEC had not recognized him as a current commissioner at the time of publication.
Among the agenda topics for the roundtable are discussions surrounding broker-dealers and custody at investment firms. Demand for digital asset custody in the US has surged in recent years, especially following the approval of crypto exchange-traded funds in January 2024. This growing interest has also attracted traditional financial institutions, including established firms like BNY Mellon.
Since the inauguration of US President Donald Trump in January and the departure of former SEC Chair Gary Gensler, the agency has seemingly shifted towards a more favorable stance for the crypto industry by rolling back certain enforcement actions and reducing its efforts in court to maintain extensive authority over digital assets.
The first roundtable event held by the crypto task force on March 21 addressed the status of various tokens as securities. Another discussion on April 11 focused on “tailoring regulation for crypto trading.”
Is a new initiative from the team led by Tesla CEO Elon Musk making its way into the SEC? Recent reports indicated that this “government efficiency” team, known as DOGE, had gained access to SEC systems and data. Acting chair Uyeda has reportedly resisted requests from the Department of Government Efficiency – which operates outside of official US governmental structures – to access SEC data.
DOGE has faced criticism and several lawsuits related to its attempts to reorganize staffing at US government agencies. It is unclear whether Musk aims to “streamline” the SEC similarly to the way the group has pursued changes at the US Agency for International Development and the Consumer Financial Protection Bureau.
