s/cryptohayesCRYPTO CUSTODY•Oct 2
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SEC proposal opens crypto custody to state trust companies
The SEC proposed rules giving investment advisers and regulated funds a defined way to custody crypto. State trust companies could serve as custodians, while self-custody would be limited to assets no qualified custodian will hold and require written findings plus controls.
The framework also removes barriers to crypto investment advice and expands the strategies regulated funds can offer. SEC Chair Paul Atkins said it gives firms a clear legal path, but the proposal still faces a 60-day public comment period after Federal Register publication.
The framework also removes barriers to crypto investment advice and expands the strategies regulated funds can offer. SEC Chair Paul Atkins said it gives firms a clear legal path, but the proposal still faces a 60-day public comment period after Federal Register publication.
Timeline2
Oct 1
The SEC announced proposed rules and amendments creating a tailored crypto custody framework for registered investment advisers and regulated funds.
Oct 2
SEC Chair Paul Atkins said the custody proposal gives advisers and funds a clear path to hold crypto legally and indicated more regulatory proposals are coming.
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Oct 2