SEC explores impact of new rules on cryptocurrencies
The U.S. Securities and Exchange Commission (SEC) has proposed amendments to Rule 15c2-11, which regulates disclosure requirements for over-the-counter (OTC) broker-dealers. The main idea is to narrow the scope of this rule, applying it only to equity securities and excluding other financial instruments, including crypto assets.
However, the SEC wants to receive feedback from market participants on whether Rule 15c2-11 should still be applied to certain types of cryptocurrencies. The regulator proposes to discuss which crypto assets may fall under its scope and what disclosure requirements should be in this case.
Experts note that the amendment of Rule 15c2-11 could significantly affect the work of OTC brokers, including those specializing in cryptocurrencies. Narrowing the scope of the rule will simplify procedures for market participants, but the cryptocurrency industry may face new regulatory barriers if the SEC decides to extend the rule to it.
Overall, the SEC's proposed changes can be seen as part of a general trend towards stricter regulation of the cryptocurrency sector in the U.S. The regulator seeks to ensure transparency and investor protection, but at the same time, it tries to find a balance so as not to create unnecessary obstacles to the industry's development.