The U.S. Securities and Exchange Commission plans to propose a new rule under the 1940 Act that would allow investment advisers to directly hold Bitcoin and other digital assets when no qualified custodian is willing to take custody of them. According to ChainCatcher, the SEC said traditional custodians often refuse to hold these assets, creating a compliance gap in the current custody framework. The proposal will open a 60-day public comment period after it is published in the Federal Register.