SEC Hosts Second Crypto Roundtable on April 25
At a Glance
The U.S. Securities and Exchange Commission (SEC) will host the second session of its crypto roundtable series on April 25. This time, the focus is on the custody of digital assets — a key area of concern in cryptocurrency regulation. The event is part of a four-part initiative through which the SEC aims to close regulatory gaps and modernize oversight of digital assets. A temporary regulatory framework is also under discussion, intended to better align innovation with legal requirements.
What Is the SEC Roundtable About?
The event is titled “Know Your Custodian: Key Considerations for Crypto Custody.” The main focus is on how cryptocurrencies can be securely and compliantly held in custody. The SEC currently requires investment advisers to store client funds with a “qualified custodian” — typically banks or brokers. In practice, this requirement creates uncertainty, as many custodians are not equipped to handle digital assets.
Two discussion panels are planned:
- Custody via broker-dealers
- Custody obligations for investment advisers and companies
SEC Chair Paul S. Atkins will open the session. Other participants include Chief of Staff Richard Gabbert, as well as Commissioners Caroline Crenshaw, Mark Uyeda, and Hester Peirce.
Why Is Crypto Custody So Controversial?
The custody of digital assets is one of the most complex issues in the crypto sector. Investors expect both security and quick access to their assets. However, current regulations force many companies into a grey area, as there are few custodians that meet both technical and legal requirements.
Legal experts such as Neel Maitra see this as the area most in need of action. Justin Browder from the law firm Simpson Thacher also criticizes the SEC: the requirements are hardly practical for many advisers and hinder the industry’s development.
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Previous Sessions and How They Set the Stage
Back in March, the SEC held a session titled “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading.” Representatives from Coinbase, Uniswap Labs, and the New York Stock Exchange (NYSE) discussed possible regulatory adjustments for cryptocurrency trading.
At the time, Commissioner Mark Uyeda proposed a temporary regulatory framework that would foster innovation while providing legal certainty. This model could now be extended to the custody of digital assets.
What’s Next?
The SEC is planning two additional sessions:
- May 12: Tokenization of assets
- June 6: Decentralized Finance (DeFi)
With this, the agency is taking a comprehensive approach to reshape cryptocurrency regulation in the United States. The goal is to both protect investors and enable innovation in the blockchain sector.
Our Assessment
The SEC is moving slowly, but visibly, toward clearer regulation for cryptocurrencies. The custody of digital assets is a central issue that affects many market participants — from institutional investors to crypto brokers. The current uncertainty is hampering the industry’s growth.
A temporary regulatory framework could serve as a practical interim solution until long-term standards are established. What will be crucial is whether the SEC is willing to address real-world needs and consider new technological solutions. The upcoming sessions will reveal how committed the agency truly is to modern crypto regulation.
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