In this YouTube video, it is discussed that the US Securities and Exchange Commission (SEC) Chairman Gary Gensler has proposed amending federal custody rules to include all crypto assets. He emphasizes that just because some crypto trading and lending platforms claim to custody investors’ crypto, it does not mean they are qualified custodians. This is an important distinction as qualified custodians are held to higher standards and regulations to ensure the security and protection of investors’ assets. Gensler’s proposal aims to increase oversight and regulation in the crypto industry to protect investors and prevent potential fraud or misconduct. By expanding the custody rules to cover all crypto assets, the SEC is seeking to create a more secure and transparent environment for investors participating in the crypto market. This proposed amendment highlights the SEC’s commitment to regulating the rapidly growing crypto industry and addressing potential risks associated with crypto trading and custody.