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White House starts review of SEC crypto broker-dealer draft

On Nov. 3, the White House office that reviews regulations recorded receiving an SEC draft about broker-dealers and crypto. The text has not been released, so how it would affect brokerages that hold crypto is unclear.

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The SEC sent a draft to the White House regulatory office, which recorded it on Nov. 3. It covers broker-dealers, meaning firms that trade securities on behalf of clients, and the way they treat crypto.

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The text is not public. What it would change for brokerages that hold crypto is therefore not yet known.

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Stricter crypto rules could raise market uncertainty, which may weigh on investor confidence and could change future crypto valuations.

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