BREAKDOWN: Why the Newly Proposed Custody Rule Could Represent a De Facto Ban on Crypto
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 18 February 2023
⏱️ 18 minutes
🧾️ Download transcript
Summary
There is now a 60-day public comment period on the SEC's newly proposed rule.
On this edition of the “Weekly Recap,” NLW looks at the newly proposed custody rule from the Securities and Exchange Commission. While the rule has broader implications other than crypto, many in the crypto industry are concerned that Chairman Gary Gensler may use the rule as a roundabout way to expand the SEC’s jurisdiction and therefore cut investment advisers off from the crypto industry.
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“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: A Mokhtari /Getty Images, modified by CoinDesk.
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Transcript
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| 0:53.9 | Welcome back to The Breakdown with me, NLW. |
| 0:59.0 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 1:05.1 | The Breakdown is produced and distributed by CoinDes. |
| 1:10.2 | What's going on, guys? |
| 1:11.5 | It is Saturday, February 18th, and that means it's time for the weekly recap. |
| 1:16.2 | Before we dive in, a quick note, there are two ways to listen to the breakdown. |
| 1:20.0 | You can hear us on the Coin Desk podcast network feed, which comes out every afternoon |
| 1:23.4 | alongside other great Coin Desk shows, or you can listen on the breakdown-only feed, |
| 1:28.4 | which comes out a few hours later in the evening. |
| 1:30.8 | Wherever you're listening, I would so appreciate it if you would take the time to leave |
| 1:33.8 | a rating or a review. |
| 1:35.1 | It makes a huge difference. |
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