White House Reviews SEC Broker Rule Amendment Proposal

Odaily reports that the U.S. White House Office of Management and Budget (OMB) is reviewing a proposal from the U.S. Securities and Exchange Commission (SEC) regarding how brokers conduct digital asset business, which was submitted earlier this week. An SEC spokesperson stated that the SEC expects to consider a proposal amending broker-dealer financial responsibility, recordkeeping, and reporting requirements to clarify how the relevant rules apply to crypto assets. The U.S. Commodity Futures Trading Commission (CFTC) also submitted another proposal to the OMB this week, aiming to strengthen consumer protection measures for prediction markets.