SEC Unveils Plans for Additional Crypto Regulatory Proposals
The US Securities and Exchange Commission (SEC) is planning to introduce more cryptocurrency regulatory proposals, according to Chair Paul Atkins. His comments follow the agency's October 1 proposal on how investment advisers and regulated funds can hold crypto assets. The custody plan is part of a broader effort to update federal securities rules for digital assets.
Atkins said the SEC would continue developing its crypto framework after addressing custody requirements. 'Our work is not finished. More regulatory proposals are on the horizon,' he said. The SEC chair linked the custody proposal to earlier agency actions covering token offerings, tokenized securities, and blockchain trading.
The proposed framework would allow registered investment advisers, registered investment companies, and business development companies to hold crypto assets themselves in certain circumstances. The changes would update existing custody requirements and permit state trust companies to serve as custodians for client and fund crypto holdings, subject to conditions.