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TechFlow reports that SEC Commissioner Hester Peirce has once again sharply criticized the agency over its guidance on cryptocurrency custody, calling for greater public engagement. Peirce pointed out that SAB 121—issued without input from the banking sector—does not protect investors, but instead excludes experienced banks and broker-dealers from cryptocurrency custody services due to its capital implications.
SEC Commissioner Hester Peirce once again launched a sharp critique of the regulator, condemning its guidance on cryptocurrency custody and calling for greater public engagement. Peirce pointed out that SAB 121—issued without input from banking regulators—does not protect investors but instead excludes experienced banks and broker-dealers from crypto custody activities due to its capital implications.
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