SEC Proposes Crypto Custody Rules for Advisers and Funds

VERA Brief

AI-generated. Grounded in the article and its cited sources.

The U.S. Securities and Exchange Commission (SEC) has proposed new rules for investment advisers and funds regarding the custody of cryptocurrencies. The framework aims to provide clarity by outlining conditions for self-custody and permitting the use of state trust companies.

Key facts

• The U.S. Securities and Exchange Commission (SEC) has proposed a rule for the custody of digital assets by investment advisers and funds.
• The proposed framework would allow advisers and funds to use state trust companies as custodians.
• Conditions for self-custody of crypto assets are also outlined in the proposal.
• The aim of the proposal is to replace existing ambiguity with a defined compliance path.