SEC chair implies crypto exchanges may not be ‘qualified custodians’ as new rule is drafted By Cointelegraph

United States Securities and Exchange Commission Chair Gary Gensler has again backed a proposed rule that would extend asset custody rules to more cryptocurrencies, saying investors need more protection.

The commission’s Investor Advisory Committee has proposed expanding 2009 rule designed to reduce the risk of advisers embarking on Ponzi schemes to all asset classes, including crypto assets that are not funds or securities.