US SEC Submits Revised Crypto Custody Framework for White House Review
The SEC has forwarded a revised digital asset custody rule covering investment advisers to the White House for review.
The US Securities and Exchange Commission has sent a revised custody framework to the White House for formal review. The upcoming rule aims to establish clear custody requirements for registered investment advisers and funds holding digital assets, following the withdrawal of an earlier 2023 proposal.
Institutional capital allocators have long sought legal clarity regarding qualified custodianship for crypto assets. By replacing older, contentious drafts, this updated submission signals an effort to formalize compliant digital asset safekeeping standards.
Clear federal custody regulations could lower the barrier to entry for institutional asset managers looking to expand crypto exposure. Market participants view standardizing custodian requirements as a vital catalyst for institutional crypto adoption.
Key takeaways
- The SEC submitted an updated digital asset custody proposal to the White House.
- The measure replaces a previously withdrawn 2023 regulatory draft.
- Clearer custodial guidelines could spur greater institutional crypto participation.