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SEC may scrap Biden-era crypto asset custody proposal, acting chief says

Mark Uyeda, acting chair of the U.S. Securities and Exchange Commission, also said the agency was developing possible changes to a recent rule that requires mutual and exchange-traded funds to report portfolio holdings on a monthly rather than a quarterly basis. His address to an investment industry conference in San Diego laid out plans for a sharp divergence from the way former President Joe Biden's administration oversaw Wall Street. Uyeda said the SEC "needs to prioritize effective and cost-efficient regulations that respect the limits of our statutory authority," according to a copy of his prepared remarks.

Strategy Buys More Bitcoin After Announcing Preferred Sales

(Bloomberg) -- Michael Saylor’s Strategy said it bought $10.7 million of Bitcoin, a week after unveiling plans to issue up to $21 billion of preferred stock to acquire more of the cryptocurrency. Most Read from BloombergICE Eyes Massive California Tent Facility Amid Space ConstraintsHow Britain’s Most Bike-Friendly New Town Got BuiltThe Dark Prophet of Car-Clogged CitiesWashington, DC, Region Braces for ‘Devastating’ Cuts from CongressSaving the Signature Sound of Washington, DCThe enterprise so