SEC Resurrects U.S. Crypto Custody Rule After Years-Long Delay

The U.S. Securities and Exchange Commission (SEC) is reviving plans to establish regulations for cryptocurrency custody, an initiative that stalled under previous administration.

According to reports, the SEC will revisit rules aimed at safeguarding digital assets stored by exchanges, custodians, or other financial institutions. The move comes after years of inaction, following a decision to delay implementation of the proposed rule in 2020.

The revived initiative is seen as a significant step towards standardizing crypto custody practices, which have been plagued by concerns over security and asset protection.