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Commissioner Peirce: Crypto Possibly Forcing SEC to Modernize Custody Rules May 27, 2021 In an interview Tuesday, SEC Commissioner Hester Peirce told Coindesk that the nature of crypto assets may force the Commission to move faster on modernizing custody rules than it would otherwise. Speaking independently, not on behalf of the Commission, Peirce said that while it was the SEC’s job to issue regulatory guidance, because of the nature of digital assets, existing custody rules weren’t a straightforward fit. “The bottom line message I have is that we have work to do in modernizing our custody rules all across the board,” she said. “I think, as with many other areas, crypto may force us to do that modernization faster than we otherwise would do.”

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