SEC axes Biden-era proposed crypto rules in flurry of repeals

The SEC has withdrawn over a dozen rules the agency proposed under Joe Biden, including two crypto-related rules targeting DeFi and digital asset custody.

The US Securities and Exchange Commission has rescinded a slate of rules the agency proposed under the Biden Administration, including two relating to crypto custody and exchanges.

The SEC said on Thursday that it was “withdrawing certain notices of proposed rulemaking” that were issued between March 2022 and November 2023 under former Chair Gary Gensler.

The agency added that it “does not intend to issue final rules with respect to these proposals,” and new rules will be proposed should it change its stance in future regulatory action. 

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