{"id":139117,"date":"2023-05-12T11:17:53","date_gmt":"2023-05-12T11:17:53","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=139117"},"modified":"2023-05-12T13:21:43","modified_gmt":"2023-05-12T13:21:43","slug":"us-house-financial-committee-opposes-secs-proposed-custodial-rule","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/us-house-financial-committee-opposes-secs-proposed-custodial-rule\/","title":{"rendered":"US House financial committee opposes SEC’s proposed custodial rule"},"content":{"rendered":"
Patrick McHenry, Chair of the House of Representatives Financial Services Committee, along with six other subcommittee chairs, expressed their dissatisfaction with the SEC’s proposed advisory client custody rule to (SEC) Secretary Vanessa Countryman in a letter<\/a>.<\/p>\n Chair Patrick McHenry and his co-chairs wrote that the SEC was acting outside of its statutory powers in its proposed rule,<\/b> known as the registered investment adviser (RIA) rule, which tightens criteria for qualified custodians of client assets. They joined a number of prominent members of the crypto companies<\/a> in the industry in expressing their opposition.<\/p>\n #NEW<\/a>: Chairman @PatrickMcHenry<\/a>, Subcommittee Chairman @RepFrenchHill<\/a>, and all members of the Committee's Republican leadership team sent a comment letter slamming @SECGov<\/a>'s disastrous custody proposal and demanding its withdrawal.<\/p>\n \ud83d\udc47 Read more \ud83d\udd17https:\/\/t.co\/l9rMtwfJUy<\/a> pic.twitter.com\/4rzG5etjON<\/a><\/p>\n — Financial Services GOP (@FinancialCmte) May 11, 2023<\/a><\/p><\/blockquote>\n\n