🧧🧧🧧🌹🧧🧧🧧U.S. Securities and Exchange Commission submitted a new proposal to the White House Office of Management and Budget on August 25 for review. The proposal covers investment advisers and investment companies that hold digital assets on behalf of clients.
The federal regulatory agenda shows that the proposal is intended to “clarify the framework for crypto asset custody,” with the focus on explaining how institutions can hold digital assets for clients without violating Securities and Exchange Commission (SEC) regulations. The SEC said the proposal would also remove certain custody requirements that have become outdated due to market developments and changes in how assets are traded and held. Pay attention to me—reply with answer 1 and take away the $SOL red envelope! 🧧🧧🧧🌹🧧🧧🧧