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The bill sets forth rules for the handling of digital assets in the event of the bankruptcy of an exchange or custodian.
Svmuu News: A Fox Business crypto reporter posted on X, stating that the bill outlines the rules for handling digital assets in the event of an exchange or custodian’s bankruptcy. The bill helps ensure that customer assets receive the same protection as traditional financial assets and remain the property of the customers, rather than becoming part of the company’s bankruptcy estate. This could help prevent a recurrence of situations like the FTX collapse.
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