🏦 SEC Proposes New Crypto Custody Rules

🏦 SEC Proposes New Crypto Custody Rules

On October 1, the U.S. Securities and Exchange Commission (SEC) introduced a proposal for new rules governing the custody of crypto assets by investment advisers and regulated funds.

🔐 The proposal would allow self-custody of crypto assets in certain circumstances, while also permitting the use of state-chartered trust companies as qualified custodians.

📋 At the same time, the proposed framework introduces additional requirements related to security, recordkeeping, and asset oversight.

⏳ These are proposed rules and are not yet in effect. The public comment period will remain open for 60 days after publication in the Federal Register.

💬 The SEC says the initiative is intended to adapt existing custody requirements to the specific characteristics of digital assets.

🔗 The crypto market continues to develop more defined infrastructure for institutional and financial players.