US SEC Submits Revised Digital Asset Custody Rules for White House Review
The US SEC has sent an updated custody rule proposal covering crypto assets and investment advisers to the White House for interagency review.
The US Securities and Exchange Commission has forwarded a revised regulatory framework governing digital asset custody to the White House for formal review. The proposal establishes updated safeguarding rules for investment advisers and registered funds.
This development follows the withdrawal of an earlier 2023 proposal that faced pushback over its stringent treatment of digital assets. Clarifying custody standards is vital for traditional asset managers seeking compliant crypto exposure.
Finalizing clear federal custody rules could lower compliance hurdles for institutional capital entering digital assets, paving the way for broader institutional adoption and regulated fund products.
Key takeaways
- SEC submits updated crypto custody framework to the White House
- Revised rules aim to clarify safeguarding duties for registered investment advisers
- Clearer standards may accelerate institutional entry into digital assets