Ethereum

Read

<ul class="wp-block-list news-points">
 <li>SEC’s SAB 121 may centralize crypto custody, raising risks of single-point failures.</li>
 <li>ETF issuers must enhance security as North Korean hackers target crypto-related products.</li>
 <li>$3B in stolen crypto by North Korean hackers underscores the need for stronger safeguards.</li>
</ul>
<a href="https://coinedition.com/when-will-you-buy-ethereum-etfs-sec-approval-timeline-in-limbo" rel="noopener noreferrer nofollow">Read also: When Will You Buy Ethereum ETFs? SEC Approval Timeline in Limbo</a>
The SEC’s position on crypto custody, as highlighted by SAB 121, may inadvertently be concentrating risks within the cryptocurrency market. Fox Business journalist Eleanor Terrett points out that by discouraging federally regulated banks from holding crypto assets, the SEC is effectively limiting the pool of potential custodians.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 This is case in point for why SAB 121 should be repealed. The <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@SECGov</a> is discouraging federally regulated banks from custodying crypto, narrowing the custodian pool, thus making them more centralized and potentially vulnerable. The government should WANT a federally regulated… <a href="https://t.co/8EULtwXK4q" target="_blank" rel="noopener noreferrer nofollow">https://t.co/8EULtwXK4q</a>— Eleanor Terrett (@EleanorTerrett) <a href="https://twitter.com/EleanorTerrett/status/1831357590837563670?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 4, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
Terrett further emphasizes that this centralization could increase the crypto ecosystem’s vulnerability to attacks, particularly since nearl…
The post <a href="https://coinedition.com/coinbase-custody-a-single-point-of-failure-for-crypto-etfs/" rel="noopener noreferrer nofollow">Coinbase Custody: A Single Point of Failure for Crypto ETFs?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Coinbase Custody: A Single Point of Failure for Crypto ETFs?

Coin Edition

Other articles published on Sep 5, 2024

How tech billionaires fared in H1 2024: the strategic moves behind their wealth

Binance Executives' Money Laundering Trial Advanced to September 2 in Nigeria Amid Controversy

AAVE Price Surges as Whales Buy In, TON Faces Potential Crash

Top Analyst Says XRP Bull Run to Start In 30 Days. Here’s why

Is the SEC Playing Favorites? Pro-XRP Lawyer Questions Double Standards in Crypto Donations

BREAKING: Coinbase Announces the Listing of Two New Altcoins in Futures

Join our free newsletter for daily crypto updates!