Kraken, Anchorage, Fidelity to Join SEC’s Next Crypto Policy Session
The U.S. Securities and Exchange Commission (SEC) will convene its third crypto task force roundtable on April 25, with a focus on digital asset custody—a key issue in regulating crypto within the existing financial system.
According to an April 16 announcement, panelists will include representatives from major firms such as Kraken, Anchorage Digital Bank, Exodus, WisdomTree, Fidelity Digital Asset Services, and Fireblocks. The session will be attended by Commissioners Hester Peirce and Caroline Crenshaw, Acting Chair Mark Uyeda, and Crypto Task Force Chief of Staff Richard Gabbert.
“Custody issues are among the most challenging as we seek to integrate crypto assets into our regulatory structure,” said Commissioner Hester Peirce, who leads the SEC’s crypto task force.
Questions Linger Over Leadership As Atkins Confirmation Awaits
Although Paul Atkins was confirmed by the U.S. Senate on April 9 as the next official SEC Chair, the commission’s announcement still lists Mark Uyeda as acting chair for the upcoming event. At the time of publication, Atkins had not yet been sworn in, and the SEC had not updated its roster of commissioners to reflect his appointment.
This leadership ambiguity has fueled speculation about how quickly Atkins will assume formal control—and whether his pro-crypto stance will accelerate regulatory clarity.
Custody Becomes Key Battleground in Crypto Regulation
The roundtable’s agenda will explore custody solutions for broker-dealers and investment firms, especially in light of the growing demand for secure digital asset storage following the approval of spot Bitcoin and Ether ETFs in early 2024.
Traditional financial giants like BNY Mellon have entered the space, offering custody services to institutional investors. At the same time, custody remains a regulatory gray zone, particularly concerning liability, capital requirements, and segregation of client funds.
“We’re seeing a convergence between traditional finance and digital assets—custody is where those worlds meet,” one policy expert noted.
The SEC’s ongoing crypto roundtable series began in March, with earlier sessions focused on token classification and crypto trading frameworks.
DOGE and Data Access Controversy Clouds the Agency
The custody discussions come amid rising concerns over the influence of the Department of Government Efficiency (DOGE)—a controversial task force launched by Elon Musk, now a White House adviser under President Donald Trump.
Reports have surfaced that DOGE requested access to SEC systems and internal data, raising security and independence concerns within the agency. Acting Chair Uyeda is said to have pushed back against these requests, particularly as DOGE faces lawsuits for politically motivated dismissals at other government agencies.
DOGE is not a formally recognized government department, but its growing presence and Musk’s proximity to regulatory power have triggered alarm among civil liberties and oversight groups.
Final Thoughts: Crypto Custody in Focus as Washington Shifts
The upcoming SEC roundtable could prove pivotal in shaping how the U.S. addresses one of crypto’s most fundamental operational needs—custody.
With institutional capital flowing into digital assets, and regulatory leadership in flux, the question now is whether the SEC can develop clear, industry-informed custody rules—or whether political distractions and bureaucratic power struggles will delay progress.
As crypto policy continues to be shaped by roundtables, courtrooms, and Capitol Hill, the April 25 discussion may provide a crucial glimpse into the regulatory roadmap for digital asset infrastructure in the U.S. financial system.
