Market News

US Institutions Take Major Steps to Regulate Crypto Landscape

In a significant move for the U.S. cryptocurrency sector, the SEC has issued new guidelines for broker-dealers on the custody of digital asset securities.

These guidelines are aimed at ensuring enhanced protection for customers as the cryptocurrency market continues to evolve.

The SEC emphasized the need for broker-dealers to document their operational resilience concerning the underlying blockchain technology.

Amid ongoing concerns about crypto fraud, the newly proposed SAFE Crypto Act seeks to establish a federal task force dedicated to combating scams.

This bipartisan effort aims to provide law enforcement and regulators with improved tools to detect and shut down fraudulent schemes in the crypto space.

With billions lost to cryptocurrency fraud in recent years, the need for public education and local law enforcement training is more critical than ever.

Additionally, a major innovation comes from SoFi Bank, which has launched SoFiUSD, the first stablecoin issued by a U.S. national bank, fully backed by cash at the Federal Reserve.

This move is expected to bolster payment efficiency, providing businesses with a new cost-effective method to handle transactions.

As the market reacts to the recent news of cooling U.S. inflation, there are rising hopes for a crypto rally that could redefine the economic landscape.

Together, these developments represent critical steps toward regulatory clarity and investor security in the evolving world of cryptocurrencies.