The Securities and Exchange Commission has proposed new custody rules for crypto assets held by registered investment advisers and regulated funds. SEC Chairman Paul Atkins said existing rules have not kept pace with the growth of crypto since Bitcoin launched in 2008. The proposal would allow advisers to let clients self-custody crypto assets under specific conditions and would allow state-chartered trust companies to qualify as custodians. A 60-day public comment period will begin when the proposal appears in the Federal Register.