SEC Pushes New Crypto Custody Rules Through White House Review

The U.S. Securities and Exchange Commission (SEC) has submitted its crypto custody proposal to the White House for review, marking a significant step towards clarifying regulations for digital assets.

The plan focuses on how investment advisers and investment companies can hold cryptocurrencies under existing federal rules, particularly in relation to qualified custodians.

This move follows an internal policy change at the SEC, which rescinded its earlier proposal aimed at expanding custody rules to include more client assets, including crypto assets. The new proposal aims to provide clarity on the applicability of these rules and amend certain requirements for client and fund assets.