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6.6 Regulation The SEC proposes new rules to modernize crypto asset custody for advisers and funds, aiming to boost investor protection and expand choices. Public comments are open for 60 days.
The U.S. Securities and Exchange Commission (SEC) has introduced proposed rules and amendments to modernize how registered investment advisers and regulated funds handle the custody of crypto assets. This initiative aims to establish a clear regulatory framework, replacing outdated rules that do not address digital assets. Key updates include permitting qualified state-chartered trust companies to act as custodians, provided they meet certain conditions. The proposal also clarifies requirements for record-keeping, disclosures, and audits, all designed to strengthen investor protections and expand investor choice. With these changes, regulated funds could offer a wider range of crypto asset-related strategies. The SEC has opened a 60-day public comment period following the proposal’s publication in the Federal Register, marking a significant step toward clearer compliance pathways for the crypto industry.
