SEC Proposes New Rules on Advisor and Regulated Fund Custody

The Securities and Exchange Commission (SEC) has proposed new rules for adviser and regulated fund custody, which may have significant implications for the crypto industry.

The proposal aims to clarify the requirements for advisers and funds to hold customer assets in a secure manner. The SEC states that this will help protect investors by ensuring that their assets are safeguarded from potential risks such as hacking or theft.

Crypto custody rules have been a contentious issue, with some arguing that they are overly restrictive and stifle innovation, while others believe they provide much-needed safeguards for investors.