The SEC is holding its second crypto roundtable tomorrow, focusing on the complex legal challenges of crypto custody. ย
Two panels will discuss how broker-dealers and investment advisors handle crypto custody under current, often conflicting, regulations.
This roundtable, part of a four-part series, aims to inform potential regulatory reforms in the digital asset space.
After the success of its first session on April 11, the U.S. Securities and Exchange Commission (SEC) is back with the second installment of its highly anticipated Crypto Roundtable series, scheduled for April 25, 2025. This time, the spotlight will be on one of the most debated and complex issues in digital asset regulation: crypto custody and the legal challenges that come with it.
With cryptocurrencies reshaping the financial world, this session is expected to spark important discussions that could drive future regulatory changes.
What to Expect from the Second SEC Crypto Roundtable
The roundtable will feature two high-profile panel discussions:
Custody Through Broker-Dealers and Beyond
Industry leaders will discuss the current state of crypto storage by broker-dealers and third-party custodians, and where the regulatory gaps lie. Panelists include:
- Jason Allegrante (Fireblocks)
- Rachel Anderika (Anchorage Digital Bank)
- Terrence Dempsey (Fidelity Digital Assets)
- Mark Greenberg (Kraken)
- These experts will explore how the crypto industry can evolve in line with traditional financial services.
Custody by Investment Advisers and Investment Companies
This discussion will dive into the intersection of traditional finance and the rapidly growing crypto world. Legal experts such as:
- Justin Browder (Simpson Thacher & Bartlett)
- Neel Maitra (Dechert)
- Ryan Louvar (WisdomTree)
- Adam Levitin (Georgetown University)
will examine how traditional custody rules are at odds with the decentralized nature of crypto and what needs to change for the industry to thrive.
Key SEC Officials Opening the Roundtable
The event will be opened by top SEC officials, including Chairman Paul S. Atkins, Crypto Task Force Chief Richard Gabbert, and Commissioners Hester Peirce, Caroline Crenshaw, and Mark Uyeda.
Their involvement signals the importance the SEC is placing on crypto regulation and the need for clear, actionable policies.
Why Crypto Custody Remains a Major Hurdle
Currently, SEC rules require investment advisers to work with qualified custodians – like banks or broker-dealers. But crypto custody doesnโt fit into this mold. The decentralized, 24/7 nature of digital assets presents a unique challenge, leaving many firms scrambling to meet outdated regulations.
Neel Maitra, a key panelist, has called custody “the biggest issue in crypto regulation.” Justin Browder agrees, criticizing the SECโs stance for forcing advisers to choose between staying compliant and offering top-notch service to clients.
Looking Ahead: What’s Next in the SEC Crypto Roundtable Series?
The third session of the SEC Crypto Roundtable will cover tokenization and is scheduled for May 12, 2025. The fourth and final roundtable, focused on Decentralized Finance (DeFi), will take place on June 6, 2025.
Each session will continue to tackle the regulatory challenges that come with digital finance and provide a glimpse into how the SEC plans to evolve its rules.
Why Tomorrowโs Roundtable Matters
As the SEC works to adapt its policies for the world of blockchain and cryptocurrencies, tomorrowโs roundtable is more than just another eventโit could be a turning point. With influential voices from across the industry and government, this discussion could lay the foundation for much-needed crypto custody reform.
Donโt miss itโclarity on crypto regulations may be closer than we think.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.