SEC Proposes New Rules for Crypto Custody by Advisers
- The SEC proposed a framework to clarify how registered investment advisers and regulated funds can custody crypto assets.
- This plan allows self-custody under certain conditions and permits state trust companies to act as custodians.
- The proposal aims to replace regulatory ambiguity with a clear compliance path, easing barriers for firms offering digital-asset strategies.
- It updates rules around financial-statement audits and broker-dealer custodial services for funds.
- Bitcoin’s market value is noted at $84,658, reflecting a +0.34% change in the last day.
The SEC’s new proposal seeks to address long-standing uncertainties about how professional money managers should hold crypto assets. By permitting self-custody and allowing state trust companies as custodians, the agency aims to remove barriers that have kept advisers from offering digital-asset strategies.
This move is part of the SEC’s broader effort to modernize regulations in response to the growing multi-trillion-dollar crypto market, which has evolved significantly since Bitcoin‘s inception in 2008. (Source)
