The chair of the US Home Monetary Companies Committee and 6 subcommittee chairs have despatched a letter to US Securities and Trade Fee (SEC) Secretary Vanessa Countryman expressing concern concerning the company’s proposed advisory consumer retention rule. They be part of many within the cryptocurrency trade in voicing their objections.
Monetary Companies Committee Chair Patrick McHenry and his colleagues wrote that the SEC overstepped its authority with its proposed rule, generally known as the Registered Funding Adviser (RIA) Rule, which tightens necessities for certified custodians of consumer property.
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