SEC Sends Revised Crypto Custody Framework for White House Review
The US SEC has submitted an updated digital asset custody framework to the White House for interagency review.
The US Securities and Exchange Commission has sent a revised regulatory framework governing digital asset custody to the White House for formal review. The updated package aims to clarify compliance obligations for registered investment advisers and institutional funds managing crypto assets.
The submission follows the withdrawal of a contentious 2023 proposal that faced pushback over its stringent safekeeping mandates. By refining definitions and compliance pathways, the agency seeks to establish workable operational standards for regulated financial entities holding crypto.
Approval from the White House would signal a step toward greater regulatory clarity for institutional digital asset custodians, potentially opening the door for expanded participation by traditional asset managers.
Key takeaways
- The SEC forwarded an updated crypto custody rule proposal for White House review.
- The guidelines target compliance standards for investment advisers and institutions.
- The revised proposal seeks to replace earlier, highly contested custody rules.