The U.S. Securities and Exchange Commission proposes new rules to clarify how investment advisers and funds may hold cryptocurrencies. The proposal is designed to replace years of ambiguity with a clearer compliance path for custody arrangements.
Across the outlets, the key elements described include allowing certain self-custody by advisers and funds under defined conditions. The SEC also proposes permitting the use of state-licensed trust companies as custodians for crypto assets, expanding the set of entities that may hold or safeguard these holdings.
Both sources present the move as a framework aimed at bringing crypto custody practices more in line with existing regulatory expectations for advisers and funds. While details such as the specific eligibility criteria and operational requirements are not included in the provided excerpts, the shared thrust is that the SEC is attempting to codify what is allowed and when, reducing uncertainty for industry participants.
