Fidelity Urges SEC to Modernize Crypto Rules as BTC-Gold Gap Widens

Fidelity asks the SEC to update crypto trading and custody rules as Bitcoin diverges from gold, with the four-year BTC cycle still intact.

Rich by Coin

2026-03-23

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Fidelity on March 23 urged the U.S. Securities and Exchange Commission to modernize and clarify rules governing cryptocurrency trading and custody. The push comes as tokenized securities and decentralized finance continue to expand, underscoring the need for regulatory coherence in the crypto space. Stephen Coltman, macro head at TwentyOneShares, said the growing divergence between Bitcoin and gold reflects fundamental differences in their investor bases. Gold tends to react to central-bank demand, while Bitcoin’s appeal stems from retail demand and accessibility, contributing to its relative stability in recent periods.

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Anthony Scaramucci, managing partner at SkyBridge, noted that the four-year Bitcoin cycle remains intact despite near-term volatility. He suggested that, even with pullbacks, the prevailing market structure could set up a rally in the fourth quarter of 2026.