SEC sends crypto custody rule overhaul to White House for review

The securities regulator’s crypto custody overhaul could clarify how investment advisers and funds hold digital assets for clients as the proposal moves through review.

The US Securities and Exchange Commission (SEC)  is moving forward with plans to overhaul custody rules for investment advisers and investment companies, potentially giving institutions greater clarity on how they can hold crypto assets for clients while complying with federal securities rules.

The proposed rule was sent on Aug. 25 to the Office of Information and Regulatory Affairs (OIRA), part of the White House Office of Management and Budget, for review before it can move back to the SEC and potentially be released for public comment.

Read more