PANews reported on June 13 that according to crypto journalist Eleanor Terrett, the U.S. Securities and Exchange Commission (SEC) has just officially repealed the expanded custody rule proposal and Rule 3b-16, as well as other rules during Gary Gensler's tenure. The custody rule is designed to cover all customer assets, including crypto assets, expands the definition of "custody", and raises concerns about whether certain state-chartered entities should be considered qualified custodians. Rule 3b-16 proposes to regulate decentralized financial (DeFi) exchanges/platforms as national securities exchanges. In addition, the SEC also abandoned the proposal to require listed companies to comply with enhanced environmental, social and governance (ESG) disclosure requirements.