And from the crypto sector, investment firm a16z said, “We believe this proposed prohibition to be illegal, infeasible, and dangerous.” The letter signed by several executives suggested investment advisers would find the rule almost impossible to comply with, because it “largely failed to consider the logistics of how custody works for many crypto assets, the economics underpinning crypto asset markets, and even the basic statistics and other data that should inform a considered regulatory approach.”
Cryptocurrency Market Shows Subdued Netflow. Here’s What It Means
Alex Dovbnya As Bitcoin rallies to a two-week high following a tentative U.S. debt ceiling deal, the cryptocurrency market shows...
