regulation
SEC Proposes New Custody Rules for Crypto Assets
The SEC has submitted proposed rules for the custody of digital assets to the White House's Office of Information and Regulatory Affairs, aiming to establish standards for secure storage of crypto assets by registered entities.
AS1 News
The Securities and Exchange Commission (SEC) has forwarded a draft of new custody rules for digital assets to the Office of Information and Regulatory Affairs at the White House. These proposed regulations specify requirements for the safekeeping of crypto assets by registered investment advisors, investment companies, and custodians. The document details standards for security, segregation of assets, and private key protection, addressing the regulatory challenges of integrating crypto custody within existing financial frameworks. Following the review process, the SEC may publish the proposal for public comment, marking a significant step toward formal regulation of crypto asset custody in the United States.
The proposed rules could influence how crypto assets are stored and regulated in the US, potentially affecting compliance requirements for financial institutions involved in crypto custody.