Leadership and Companies
SEC Opens Crypto Custody Path for Advisers and Regulated Funds
The SEC proposed crypto custody rules for registered investment advisers and regulated funds, including self-custody and state trust companies.
What happened
The SEC proposed rules and amendments creating a tailored framework for registered investment advisers and regulated funds to custody crypto assets. The proposal would permit self-custody in certain circumstances and allow state trust companies to serve as custodians. It also updates requirements covering adviser financial statement audits and broker-dealer custodial services for regulated funds.
Why it matters
The proposal removes regulatory barriers to crypto-related investment advice and gives regulated funds access to a wider range of crypto investment strategies.
Source: U.S. SEC Press Releases