SEC Proposes Crypto Custody Framework for Advisers and Funds
SEC Chair Paul Atkins said the proposal would give advisers and regulated funds a compliant way to custody crypto assets. Existing custody rules were designed around traditional investments.
The Securities and Exchange Commission proposed a framework intended to give investment advisers and regulated funds a compliant way to custody crypto assets. Existing custody rules were designed around traditional investments.
SEC Chair Paul Atkins announced the proposal Oct. 1. It addresses custody under the Investment Advisers Act of 1940 and the Investment Company Act of 1940.
Atkins said custody services for newly developed crypto assets can take months to become available. The proposal is intended to give advisers and regulated funds a way to custody those assets within a regulatory framework.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.