White House Reviews SEC Proposal to Amend Cryptocurrency Broker Rules

The Office of Management and Budget at the White House is reviewing a proposal from the U.S. Securities and Exchange Commission regarding brokers conducting digital asset business, which was submitted earlier this week. The SEC is expected to consider amendments to the financial responsibility, record-keeping, and reporting requirements for broker-dealers to clarify how the rules apply to cryptocurrency assets. Additionally, the Commodity Futures Trading Commission also submitted another proposal to the OMB this week aimed at enhancing consumer protection measures in prediction markets.

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