White House OMB Reviews SEC Proposal on Crypto Broker-Dealer Rules

Cointime update: The White House Office of Management and Budget is reviewing an SEC proposal on how broker-dealers conduct digital-asset business, submitted earlier this week. An SEC spokesperson said the agency expects to consider a proposal amending broker-dealer financial responsibility, recordkeeping and reporting requirements to clarify how they apply to crypto assets. The CFTC also filed a separate proposal with OMB this week to strengthen consumer protections in prediction markets.