OMB Reviews SEC Proposal on Crypto Broker-Dealer Rules for Digital Assets

The White House Office of Management and Budget (OMB) is reviewing a Securities and Exchange Commission (SEC) proposal that would clarify how broker-dealer requirements apply to digital-asset activity.

The proposal was submitted to OMB earlier this week. The SEC expects to consider revisions to requirements covering financial responsibility, recordkeeping and reporting, clarifying how those rules apply to crypto assets.

The Commodity Futures Trading Commission (CFTC) submitted a separate proposal to OMB this week aimed at strengthening consumer protections in prediction markets.