The SEC proposes new rules for the custody of cryptocurrencies by funds and investment advisers 🏦🔐
The U.S. Securities and Exchange Commission, the SEC, has submitted a proposal to update the rules related to the custody of digital assets by funds and investment advisers.
The project would allow, in certain circumstances, these entities to keep cryptocurrencies in their own custody, as well as to use services from regulated trust companies to protect their clients’ assets.
The goal is to create a clearer framework so that financial institutions can work with cryptocurrencies within a regulated environment, especially regarding custody, security, and accountability for digital assets.
The proposal could facilitate greater institutional participation in the crypto market if it ultimately takes effect. However, for now it is not a definitive rule, but a draft that still must go through the corresponding regulatory process before it could be approved. 📊
The U.S. Securities and Exchange Commission, the SEC, has submitted a proposal to update the rules related to the custody of digital assets by funds and investment advisers.
The project would allow, in certain circumstances, these entities to keep cryptocurrencies in their own custody, as well as to use services from regulated trust companies to protect their clients’ assets.
The goal is to create a clearer framework so that financial institutions can work with cryptocurrencies within a regulated environment, especially regarding custody, security, and accountability for digital assets.
The proposal could facilitate greater institutional participation in the crypto market if it ultimately takes effect. However, for now it is not a definitive rule, but a draft that still must go through the corresponding regulatory process before it could be approved. 📊
