- The SEC's SAB 121 could centralize cryptocurrency custody, rising the danger of a single level of failure.
- ETF issuers should improve safety as North Korean hackers goal cryptocurrency-related merchandise.
- $3 billion in crypto stolen by North Korean hackers underscores the necessity for stronger protections.
Additionally Learn: When to Purchase Ethereum ETF? Timeline of SEC approvals in Limbo
The SEC's place on cryptocurrency custody, as highlighted by SAB 121, could inadvertently focus dangers within the cryptocurrency market. Fox Enterprise reporter Eleanor Terrett factors out that by discouraging federally regulated banks from holding crypto belongings, the SEC is successfully limiting the pool of potential custodians.
Terrett goes on to level out that this centralization might improve the vulnerability of the crypto-ecosystem to assault, particularly since nearly…
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