SEC Submits Revised Digital Asset Custody Rules for White House Review
The US SEC has sent its revised custody regulations for digital assets to the White House for formal administrative review.
The US Securities and Exchange Commission (SEC) has advanced its newly revised digital asset custody framework to the White House for official review. The updated guidelines target investment advisers and investment funds, clarifying how institutions must safeguard crypto holdings.
The submission follows the withdrawal of an earlier 2023 proposal that drew significant industry pushback over restrictive custodian requirements. The new iteration seeks to provide clearer operational boundaries for registered entities looking to manage digital assets.
Securing formal custody rules is a pivotal step for traditional finance institutions seeking compliant entry into crypto markets. Clearer standards could reduce regulatory ambiguity, encouraging more asset managers to offer regulated digital asset products.
Key takeaways
- The SEC forwarded an updated crypto custody rule to the White House for review.
- The revised framework clarifies rules for investment advisers and institutions.
- Clearer custody guidelines may facilitate broader institutional crypto participation.