Fidelity Seeks Clarity on Cryptocurrency Regulations from SEC

Fidelity, a leading global asset manager, has called on the US Securities and Exchange Commission (SEC) to clarify regulations surrounding cryptocurrency trading. The company's appeal is part of an ongoing effort by the SEC's Task Force, chaired by Hester Peirce, to solicit opinions from market participants.

According to Fidelity, the current regulatory framework falls short in addressing the integration of cryptocurrencies into the traditional financial system. The company notes that there are numerous uncertainties surrounding intermediary institutions, which must be clarified to determine their eligibility to offer cryptocurrency custody or trading services.