SEC Seeks Clarity on Crypto Custody Rules
The US Securities and Exchange Commission (SEC) is moving forward with plans to overhaul custody rules for investment advisers and investment companies. This proposal could provide greater clarity on how institutions can hold crypto assets for clients while complying with federal securities regulations.
The SEC submitted its proposed rule, 'Amendments to the Custody Rules', to the Office of Information and Regulatory Affairs (OIRA) within the White House Office of Management and Budget on August 25. This marks a significant step towards finalizing the changes, which aim to address uncertainty surrounding crypto custody.
The regulator's move is part of its broader effort to advance the Trump administration's digital asset agenda. The SEC has shifted its focus from enforcement actions to developing clearer rules for the industry under Chair Paul Atkins' leadership.