The U.S. House Financial Services Committee requests the SEC to withdraw the proposed custody rule

ChainCatcher News, U.S. House Financial Services Committee Chairman Patrick McHenry and Digital Assets, Financial Technology and Inclusion Subcommittee Chairman French Hill sent a comment letter to the U.S. Securities and Exchange Commission (SEC) stating that the SEC's proposed custody rule would deter companies from serving as qualified custodians for RIAs (Registered Investment Advisors) and exceeds the committee's statutory authority, urging the SEC to withdraw its proposed rule and adhere to its statutory mandate. (Source link)