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U.S. SEC Proposes to Exclude Crypto Assets from Rule 15c2-11

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The U.S. SEC has proposed amendments to Rule 15c2-11, limiting its scope to equity securities. The rule regulates quote reviews in the OTC market and is designed to curb manipulative trading. SEC Chair Paul S. Atkins stated that the update aligns the rules with specific asset types and clarifies obligations. Traders are advised to monitor altcoins as regulations evolve. The Fear & Greed Index remains a key tool for assessing market sentiment during regulatory changes.

According to the SEC’s official website, the U.S. Securities and Exchange Commission formally proposed on March 16 to amend Rule 15c2-11 under the Exchange Act, aiming to explicitly limit the rule’s scope to equity securities. Since its adoption, this rule has primarily been used to regulate brokers’ obligations regarding information collection and review when publishing quotations in the over-the-counter (OTC) market, with the core objective of preventing manipulative and fraudulent trading activities in the OTC equity market. SEC Chairman Paul S. Atkins stated that regulatory rules should align with the asset classes they govern; this amendment seeks to clarify the regulatory obligations for publishing quotations and affirm that Rule 15c2-11 has always applied solely to equity securities.

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