$BTC
SEC suddenly eases encryption custody
Wall Street funds can finally get easier access to BTC
Brothers
October 1st
The SEC dropped another bomb
Proposed new rules
Set up a crypto custody framework for registered investment advisers and regulated funds
The core is one thing:
Under certain conditions,
investment advisers can custody clients’ crypto assets themselves
Holy crap
This basically clears a huge obstacle for institutional entry
Under the old rules, crypto assets of an investment adviser’s clients
had to be handed over to a compliant third-party custody provider
This proposal loosens the restriction
Registered advisers that meet strict security conditions
can keep clients’ crypto assets themselves
No longer required to find a mandatory third-party qualified custodian
Before, many institutions wanted to buy assets like BTC and ETH
It’s not that they didn’t want to buy
It’s that after buying them—
Where do the coins go? Who manages them? How do you ensure compliance?
Regulatory rules have always been pretty vague
So many institutions still hesitated about entering
not quite daring enough
Now, with the SEC’s proposal,
when certain conditions are met,
advisers and funds can use a new approach to custody crypto assets
They can use state trust companies that meet the requirements
In some cases, institutions are also allowed to self-custody crypto assets
Now this is an important piece paving the way for institutions to enter
Lowering the barrier for traditional institutions to get into crypto
Previously, many traditional asset managers got stuck at the custody step
After the new rules take effect,
more RIA advisers will be able to allocate crypto assets to high-net-worth clients
Good thing
Now the direction is already clear
Crypto assets are moving from alternative investments into the traditional financial system
But for now, it’s still just a proposal
It hasn’t truly taken effect yet
So brothers, don’t blindly rush
Waiting and observing is best for now
#sec拟放宽投顾加密托管规则
SEC suddenly eases encryption custody
Wall Street funds can finally get easier access to BTC
Brothers
October 1st
The SEC dropped another bomb
Proposed new rules
Set up a crypto custody framework for registered investment advisers and regulated funds
The core is one thing:
Under certain conditions,
investment advisers can custody clients’ crypto assets themselves
Holy crap
This basically clears a huge obstacle for institutional entry
Under the old rules, crypto assets of an investment adviser’s clients
had to be handed over to a compliant third-party custody provider
This proposal loosens the restriction
Registered advisers that meet strict security conditions
can keep clients’ crypto assets themselves
No longer required to find a mandatory third-party qualified custodian
Before, many institutions wanted to buy assets like BTC and ETH
It’s not that they didn’t want to buy
It’s that after buying them—
Where do the coins go? Who manages them? How do you ensure compliance?
Regulatory rules have always been pretty vague
So many institutions still hesitated about entering
not quite daring enough
Now, with the SEC’s proposal,
when certain conditions are met,
advisers and funds can use a new approach to custody crypto assets
They can use state trust companies that meet the requirements
In some cases, institutions are also allowed to self-custody crypto assets
Now this is an important piece paving the way for institutions to enter
Lowering the barrier for traditional institutions to get into crypto
Previously, many traditional asset managers got stuck at the custody step
After the new rules take effect,
more RIA advisers will be able to allocate crypto assets to high-net-worth clients
Good thing
Now the direction is already clear
Crypto assets are moving from alternative investments into the traditional financial system
But for now, it’s still just a proposal
It hasn’t truly taken effect yet
So brothers, don’t blindly rush
Waiting and observing is best for now
#sec拟放宽投顾加密托管规则
