SEC Set to Rewrite Crypto Custody Rules Amid White House Support
The US Securities and Exchange Commission (SEC) is reportedly considering a major overhaul of its cryptocurrency custody regulations, with the White House weighing in on the matter.
According to sources, the SEC is looking to update its rules for custodial services that store digital assets on behalf of clients, potentially expanding the types of tokens and coins that can be held by these firms.
The move comes as the crypto industry continues to grow in size and complexity, with more institutions and investors seeking to participate but facing regulatory hurdles. As one source notes, 'The White House is very much interested in making sure that we are facilitating innovation in this space.'
No specific timeline or details have been announced by the SEC or the White House regarding these potential changes.