SEC Sends Proposal To White House On Crypto Custody Clarification

The Securities and Exchange Commission (SEC) has taken another step towards modernizing regulations for cryptocurrency custody. On Tuesday, the regulator sent a proposal to the White House that aims to clarify the framework for holding crypto assets by investment advisers and companies.

The move comes after a vote was delayed on the Clarity Act, which has been long-awaited in the industry. Despite this setback, regulators are pressing ahead with efforts to shape policy around cryptocurrencies.

The proposal seeks to improve and modernize regulations surrounding custody for the crypto space. This is seen as an important step towards providing greater clarity and consistency in how investment advisers and companies handle digital assets.