The White House has begun reviewing an SEC proposal on financial rules for crypto broker-dealers. The filing has no legal deadline for the review, and the full text has not been released.
The White House has begun reviewing an SEC proposal covering financial rules for crypto broker-dealers. The Office of Information and Regulatory Affairs (OIRA) lists the filing under regulatory identifier 3235-AN48.
SEC proposal targets broker capital and customer protection
The SEC's regulatory agenda includes Rules 15c3-1 and 15c3-3. Rule 15c3-1 sets net capital requirements for broker-dealers, while Rule 15c3-3 governs how firms protect customer assets.
Separately, the agency proposes to amend Rules 17a-3 and 17a-4, which regulate business records and their retention. Its agenda outlines updates to how those requirements apply to cryptocurrencies.
An SEC spokesperson told Bloomberg the commission expects to consider "fit-for-purpose rules" for crypto markets.
White House review has no deadline
According to OIRA, the submission is economically important and in the proposed-rule stage. However, OIRA's record lists no legal deadline for finishing the review.
The government has not provided the full text of the proposal, nor has it announced a publication date. As a result, no documents show a reduction in any specific capital or recordkeeping requirement, and the filing does not alter existing broker-dealer requirements while the draft is under review.
Securitize expands tokenized stocks through a registered broker
Separately, Securitize expanded its tokenized stock offering to 25 equities early this month. Trading runs through Securitize Markets, an SEC-registered broker-dealer, for US customers.
Securitize had announced 12 stocks and added 13 more, including Disney, Salesforce and ExxonMobil. It issues its Solana-based shares in USDC, backed by underlying shares.
Trading can extend beyond regular market hours while the company works toward round-the-clock access, it says. Securitize Markets conducts the trading under existing US securities laws, the company said.
Source: CoinGape
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