U.S. SEC maps out crypto custody in new proposal that furthers its digital assets agenda
The regulator issued a proposed rule for custody, marking a swan song for its inaugural Crypto Task Force chief, Commissioner Hester Peirce, who exits this week.
The US Securities and Exchange Commission (SEC) has proposed new rules for the custody of crypto assets. According to the SEC, these rules would provide a framework for registered investment advisers and regulated funds to offer crypto-related investment advice and strategies. The proposal aims to modernize custody rules and expand investor choice.
The proposed rules would update requirements under the Investment Advisers Act of 1940 and the Investment Company Act of 1940. They would address current industry practices and allow regulated funds to offer clients access to a wider range of crypto asset-related investment strategies.
SEC Chairman Paul S. Atkins stated that the proposal would provide a clear regulatory framework for the custody of crypto assets, giving investment advisers and funds a compliant pathway. CoinDesk reports that this proposal marks the end of the term for Commissioner Hester Peirce, the inaugural Crypto Task Force chief, who is set to exit this week.
Brief written by urgent.news from CoinDesk, SEC Press Releases — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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