SEC proposes excluding crypto from broker-dealer quote rule

The U.S. Securities and Exchange Commission (SEC) has proposed an amendment to exclude cryptocurrencies from the scope of its rule for broker-dealers on posting over-the-counter (OTC) quotes, Cointelegraph reported via X. The regulation, Rule 15c2-11, requires broker-dealers to review an issuer's publicly available materials, such as financial and basic information, before posting quotes for certain securities in the OTC market.