SEC resurrecting U.S. crypto custody rule the previous administration failed to land
The U.S. Securities and Exchange Commission is revisiting regulations regarding how investment advisers safeguard crypto assets. The agency aims to modernize custody rules, though previous attempts faced significant pushback from the crypto industry over strict qualified custodian requirements.
Why it matters
Clearer custody rules are essential for institutional adoption of digital assets, but the SEC's approach remains a point of contention for crypto firms.
But the agency is giving the regulation of crypto safeguarding another shot , hoping to answer the industry's urgent questions about how to comply with the existing custody regulations for crypto assets. The SEC took the very preliminary step of sending the concept this week to the White House Office of Budget and Management, where it'll sit for a while under review before the agency can move forward to actually propose it.
The framing focuses on the SEC's regulatory authority and investor protection, which is a standard institutional perspective.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in