Summary
- The U.S. Securities and Exchange Commission said it had proposed a new regulatory framework for crypto custody by investment advisers and funds.
- The proposal includes a provision allowing self-custody by investment advisers and funds if they meet certain requirements.
- It also said state-chartered trust companies would be allowed to provide services as digital-asset custodians.
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The U.S. Securities and Exchange Commission has proposed a new regulatory framework for crypto custody by investment advisers and funds. The proposal would allow self-custody under certain conditions and permit state-chartered trust companies to serve as custodians.
Cointelegraph reported on October 1 that the SEC had proposed revisions to custody rules governing how investment advisers and funds hold digital assets.
Under the proposal, investment advisers and funds would be allowed to use self-custody for digital assets if they meet certain requirements.
The proposal also includes a measure that would allow trust companies licensed by state governments to provide digital-asset custody services.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.