SEC Advances Crypto Custody Rule Changes for Investment Advisers and Funds 

The U.S. Securities and Exchange Commission (SEC) is advancing a plan that could reshape how investment advisers and investment companies comply with custody requirements when holding crypto assets, according to Bloomberg.

The SEC sent the proposal for White House review on Aug. 25. The planned changes are intended to provide greater clarity on the regulatory framework governing the custody of crypto assets.

As part of the initiative, the regulator is considering eliminating certain custody requirements it views as “outdated” following changes in markets and the way assets are now traded and held. 

The proposal has not yet been released publicly. Its full provisions are expected to become available once the OMB review is complete. 

The measure would subsequently go before the SEC for a vote. If approved at that stage, it would enter a public comment period that typically runs for at least 60 days.

Source: Bloomberg