Wall Street Regulator Proposes Rules on Investment Adviser Crypto Asset Custody
The proposal would set recordkeeping, auditing and disclosure requirements while creating a compliant pathway for advisers and funds to hold crypto assets.
- On Oct 1, the SEC proposed new rules to govern investment funds' custody of crypto assets under Securities laws, aiming to clarify how investment firms handle and keep customer crypto assets.
- SEC Chairman Paul Atkins said existing rules were designed to protect advisory clients from loss or theft, but only consider traditional assets, an 'untenable situation in the 21st century.'
- The newly proposed rule, open for a 60-day public comment period, would allow for self-custody of crypto assets 'under certain circumstances' and permit the use of state-chartered trusts as custodians.
- Atkins said the regulations 'would provide a clear regulatory framework for the custody of crypto assets, giving investment advisers and funds a compliant pathway where none existed before.'
- Commissioner Hester Peirce leaves the agency on Friday after leading the Crypto Task Force since its inception, becoming a professor in Virginia.
19 Articles
19 Articles
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WTVBWall Street regulator proposes rules on investment adviser crypto asset custody
WASHINGTON, Oct 1 : The US Securities and Exchange Commission on Thursday proposed new rules it said would help govern investment funds' custody of crypto assets under federal securities laws, according to a statement.SEC Chair Paul Atkins said in a statement the new regulations "would provide a clear regulat
US SEC Proposes New Crypto Custody Rules for Investment Advisers and Funds
TLDR SEC proposes a tailored crypto custody framework for investment advisers and regulated funds. Advisers could self-custody certain crypto assets when specified conditions are met. State trust companies could qualify to safeguard crypto assets for advisers and regulated funds. The proposal updates custody requirements under two major federal investment laws. Public comments will remain open [...]
🚨 The SEC has proposed a new framework for institutional crypto custody rules. 📌 The proposal opens the door to self-custody and state trust companies under certain conditions. 📊 The regulation may affect investment advisors' access to $BTC and other crypto strategies. 🕒 A 60-day public consultation period will begin after the text is published. Read More: SEC proposes new framework for crypto custody rules The article "SEC proposes new fram…
SEC Allows Limited Crypto Self-Custody Under Proposed Regulatory Framework
The U.S. Securities and Exchange Commission has proposed a new framework that would allow investment advisers and regulated funds to hold crypto assets through expanded custody options, including certain forms of adviser self-custody and state trust companies acting as custodians. The proposal seeks to update federal custody rules that were largely developed before digital assets existed, creating what SEC Chair Paul Atkins described as a compli…
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