SEC Crypto Custody Framework Moves Forward to White House Review
The SEC has sent a revised crypto custody proposal to the White House for review, seeking to clarify digital asset storage rules for institutional managers.
The U.S. Securities and Exchange Commission has submitted a revised digital asset custody rule proposal to the White House for formal interagency review. The updated framework follows the withdrawal of a broader 2023 proposal that had faced substantial industry pushback.
The prospective rule intends to establish clearer guidelines for investment advisers and registered investment companies holding digital assets. Regulatory officials aim to define qualified custodianship standards tailored specifically to cryptographic assets and segregated cold storage practices.
If approved, the updated standard could remove long-standing compliance ambiguity for registered funds, paving the way for broader institutional adoption of digital asset custody solutions.
Key takeaways
- The SEC submitted revised digital asset custody guidelines for White House review.
- The proposal replaces a previously withdrawn 2023 regulatory draft.
- Clearer rules could streamline compliance for institutional investment advisers.