April 18, 2025 - The U.S. Securities and Exchange Commission (SEC) officially announced the detailed agenda and list of participants for the cryptocurrency custody roundtable meeting to be held on April 25. The theme of this meeting is "Understanding Your Custodian: Key Considerations for Cryptocurrency Custody," aimed at exploring compliance, technical standards, and risk management issues in the field of crypto asset custody. The meeting will take place at the SEC headquarters in Washington, D.C., from 1 PM to 5 PM local time on April 25, and will be broadcast live to a global audience via the SEC's official website (SEC.gov).

Meeting Background: From Enforcement to Dialogue, SEC's Regulatory Approach Shifts

In recent years, the rapid development of the cryptocurrency market has made custody issues a regulatory focus. As institutional investors show increasing interest in crypto assets, the security, compliance, and technical architecture of custody services have become key concerns for both the industry and regulators. Since its establishment in early 2025, the SEC's cryptocurrency working group has been dedicated to formulating a "comprehensive and clear" regulatory framework for crypto assets. This roundtable meeting is the third event in the SEC's "Spring Sprint: Towards Clarity in Crypto Regulation" series, marking a shift from a primarily enforcement-based regulatory model to a more open collaboration and dialogue approach.

The meeting will be led by SEC Commissioner Hester Peirce, who has previously emphasized that custody issues are one of the biggest challenges in bringing crypto assets into the regulatory framework. Peirce stated, "Addressing custody issues is crucial for the SEC; it is one of the most challenging aspects of our process to incorporate crypto assets into the regulatory framework." Meanwhile, SEC Acting Chair Mark Uyeda also expressed his anticipation for the meeting in a press release, believing it will further clarify crypto regulatory policies.

Meeting Agenda: Focusing on Two Core Topics

According to the SEC's official announcement, the roundtable meeting will be divided into two panel discussions, focusing on the following topics:

• Custody through broker-dealers and other means: This panel will explore the practices of broker-dealers and wallet service providers in crypto asset custody, analyzing the technical architecture and compliance challenges of current market custody models. Discussions will cover how to ensure asset security, prevent hacking, and meet regulatory requirements. Panel members include industry leaders such as Mark Greenberg, Vice President of Consumer Business and Product at Kraken; Rachel Anderika, Chief Risk Officer at Anchorage Digital Bank; and Jason Allegrante from Fireblocks.
• Custody for investment advisors and investment companies: The second panel will focus on the roles of investment advisors and investment companies in crypto asset custody, discussing the division of responsibilities among custodians, risk management, and integration with the traditional financial system. Participants include Terrence Dempsey from Fidelity Digital Assets, Ryan Louvar from WisdomTree, and Tammy Weinrib from Copper. These institutions have extensive experience in crypto custody, and their insights will provide important references for the development of the regulatory framework.

Participants: Top Dialogue Between Industry and Regulators

This meeting brings together heavyweight representatives from the crypto industry and regulatory agencies. From the SEC, Acting Chair Mark Uyeda, Commissioner Hester Peirce, and Caroline Crenshaw will be present. Additionally, Richard Gabbert, Chief of Staff for the cryptocurrency working group, will participate in discussions to ensure that the meeting's outcomes align closely with the SEC's regulatory goals.

Industry representatives include institutions from crypto exchanges, custody service providers, and traditional financial institutions, such as:

• Kraken: A leading global cryptocurrency exchange, its custody solutions are highly regarded;
• Anchorage Digital Bank: The first federally chartered crypto bank in the U.S., focusing on institutional-grade custody services;
• Fidelity Digital Assets: A pioneer in the crypto space from a traditional financial giant, providing enterprise-level custody solutions;
• Fireblocks: A crypto infrastructure provider known for its security technology;
• WisdomTree: An asset management company exploring the integration of crypto assets with traditional finance;
• Copper: Specializing in crypto custody and trading services for institutional investors;
• 1kx: A well-known investment firm in the crypto space, representing the perspective of emerging capital.

Industry Impact: Custody Compliance May Welcome New Standards

This roundtable meeting is seen as a barometer for crypto custody regulation. Discussions on platform X indicate that the crypto community is looking forward to the meeting but is also concerned that regulation may increase compliance costs. One user commented, "The SEC is focusing on custody compliance this time; it seems the security standards for storing coins will skyrocket." Another analysis pointed out that the meeting's outcomes could push custody institutions to adopt stricter technical standards, such as multi-signature wallets and cold storage solutions, while requiring custody service providers to disclose more risk information.

It is noteworthy that the newly appointed SEC Chair Paul Atkins has been confirmed by the Senate but has not yet officially taken office; the meeting will still be chaired by Acting Chair Mark Uyeda. Atkins' regulatory stance may have a profound impact on subsequent policies, and the market is closely watching his actions after taking office.

Disclaimer: This article represents the author's personal views and does not reflect the position or views of this platform. This article is for informational sharing only and does not constitute any investment advice to anyone. Any disputes between users and column writers are unrelated to this platform.

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