24-4-2025 – The United States Securities and Exchange Commission (SEC) is poised to convene the second chapter of its acclaimed four-part Crypto Roundtable series on 25 April, building on the momentum of its inaugural session earlier this month. This eagerly anticipated event will delve into the thorny issue of cryptocurrency custody, a linchpin in the evolving discourse on digital asset regulation, and the legal complexities that accompany it.
The roundtable will showcase two dynamic panel discussions, each tackling distinct facets of crypto custody. The first, focusing on custody through broker-dealers and third-party custodians, will bring together industry titans including Jason Allegrante of Fireblocks, Rachel Anderika from Anchorage Digital Bank, Terrence Dempsey of Fidelity Digital Assets, and Mark Greenberg from Kraken. Their dialogue will illuminate the mechanisms by which digital assets are safeguarded, shedding light on the operational realities of this rapidly evolving sector.
The second panel will explore custody within the realm of investment advisers and companies, featuring legal luminaries such as Justin Browder from Simpson Thacher & Bartlett, Neel Maitra of Dechert, Ryan Louvar from WisdomTree, and Georgetown University’s Adam Levitin. This group will grapple with the friction between traditional financial regulations and the unique demands of crypto custody, offering insights into how legacy frameworks struggle to accommodate decentralised, round-the-clock digital infrastructures.
Opening remarks will come from senior SEC figures, including Chairman Paul S. Atkins, Crypto Task Force Chief Richard Gabbert, and Commissioners Hester Peirce, Caroline Crenshaw, and Mark Uyeda, setting the stage for a robust exchange of ideas. The discussions are expected to underscore a critical challenge: the SEC’s existing rules, which mandate that investment advisers engage qualified custodians like banks or broker-dealers, are ill-suited to the realities of cryptocurrency. This mismatch has left many firms caught between regulatory compliance and the practical needs of their clients.
Neel Maitra, a prominent voice in the legal sphere, has described custody as the most pressing issue in crypto regulation, a sentiment echoed by fellow panellist Justin Browder, who has critiqued the SEC’s rigid stance for placing advisers in an untenable position.
