SEC may let crypto firms report assets managed for clients

03/31 23:23

The SEC prefers to let cryptocurrency companies report assets managed on behalf of clients. At a conference hosted by the American Bankers Association on Thursday, the acting comptroller of the Office of the Comptroller of the Currency said that so-called tail risks, which are unlikely but high-impact risk events, are an issue that financial institutions risk departments need to address. a growing potential problem. He said that the Russian-Ukrainian conflict has affected tail risks and geopolitics, and now more than at any time in recent years, it is necessary to be cautious and maintain vigilance in risk management. In addition to the Russian-Ukrainian conflict, growing cryptocurrency exchanges also pose serious risks, especially in how institutions keep accounts of their cryptocurrency holdings. He said so-called hedging positions have a long history of "thunder." Additionally, U.S. Rep. MEEKS and MCCAUL introduced a cryptocurrency transparency bill targeting Russia.
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