Gary Gensler, the current chairman of the Foreign Securities and Exchange Commission (SEC), has reapplied a proposed rule that extends the asset custody rule to a large number of digital currencies, saying investors need a lot of maintenance.

The European Commission's Investor Advisory Committee recommended that the 2009 rules aimed at reducing the risk of consultants' Ponzi scheme be extended to all asset classes, including non-stock funds or securities encrypted assets.

Gensler said the new rules will strengthen the maintenance provided by qualified custodians because of the new powers granted by the U.S. Congress in 2010.

The proposed rules would also provide for a written agreement between consultants and custodians, raise the requirements for foreign institutions acting as custodians, and explicitly extend the rules to ensure that they are free to choose trading transactions.

He added that investment consulting cannot rely on logging on to the password service platform to perform escrow duties. Gensler added:

"just because you log on to the password trading website to claim to be a qualified custodian does not mean that it is a qualified custodian. When an exception occurs on such a platform [...] The property of investors usually becomes the asset of a bankrupt company, leaving investors waiting in long queues at the scene of the bankruptcy trial.

According to the new rules, in order to become a "qualified" custodian, enterprises need to ensure that property is appropriately separated, accept the annual audit reports of public accountants, and take necessary clarity measures.

Hester Pierce, the SEC committee, resisted the rule. He made up a lie in a notice that the new rules would "encourage investment consulting to immediately abandon advice on providing clients with relevant data encryption".

This is also Gensler's second public statement on the proposed rules. The first time was in mid-to-late February, when the rule was first proposed.