Yellen additionally addressed the U.S. Securities and Alternate Fee’s proposal to additional prohibit how funding companies custody their shopper’s belongings, together with their crypto holdings. The proposed rule, which is on the company’s agenda to finish this 12 months, would require a wider vary of shopper belongings to be held with “certified custodians,” and it has drawn criticism from bankers, some lawmakers and even different regulators about its potential results.
