SEC Sends Revised Crypto Custody Rules for White House Review
The SEC's updated proposal covering digital asset custody for investment advisers has advanced to the White House for review.
The U.S. Securities and Exchange Commission (SEC) has submitted an updated digital asset custody framework to the White House for review. The revised rules target registered investment advisers and investment companies managing crypto holdings.
The submission follows the withdrawal of an earlier 2023 proposal that met strong industry resistance. The revised framework aims to provide clear standards for institutional safeguarding of digital assets and qualified custodian responsibilities.
Clearer federal custody standards could pave the way for broader institutional involvement in crypto asset management, removing legal ambiguity that previously restrained regulated asset managers from expanding custodial offerings.
Key takeaways
- SEC submitted rewritten crypto custody rules for White House review.
- Framework specifies digital asset storage duties for registered advisers.
- Clear rules could unlock institutional participation in digital assets.