SEC Submits Digital Asset Custody Proposal to White House

The US Securities and Exchange Commission (SEC) has submitted proposed rules on digital asset custody to the White House for review.

The proposal, which was sent to the Office of Management and Budget on Aug. 25, aims to clarify how investment advisers and companies can safely hold cryptocurrencies on behalf of clients.

The rulemaking effort is part of Chairman Paul Atkins' push to modernize the agency's regulatory framework for digital assets.