3b-16

ChainCatcher news, as disclosed by crypto journalist Eleanor Terrett, the U.S. Securities and Exchange Commission (SEC) has officially revoked the extended proposal for the "Custody Rule" and Rule 3b-16, along with other rules during Gary Gensler's tenure. The "Custody Rule" aimed to cover all customer assets, including crypto assets, expanding the definition of "custody" and raising concerns about whether certain state-chartered entities should be recognized as qualified custodians.Rule 3b-16 proposed to regulate decentralized finance (DeFi) exchanges/platforms as national securities exchanges. Additionally, the SEC has also abandoned the proposal requiring public companies to comply with enhanced environmental, social, and governance (ESG) disclosure requirements.