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James Seyffart highlights that the SEC is moving forward with guidance and potential new rules regarding crypto asset custody.
He raises questions about the necessity of the CLARITY Act in light of these developments.
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Seyffart has previously reported on regulatory actions affecting related areas, including the IRS's broad notice impacting tax structuring techniques such as in-kind redemptions. He has also explained that certain derivatives, including swaps, can carry counterparty risk due to their structure. These earlier observations provide context for the current discussion around crypto asset regulation and oversight.