SEC proposes regulatory framework for investment advisers and regulated funds to custody crypto assets
SEC Proposal Would Address How Investment Advisers and Funds Can Custody Crypto Assets Under the Federal Securities Laws
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SEC proposes new rules and amendments under the Investment Advisers Act and the Investment Company Act to establish a dedicated framework for registered investment advisers and regulated funds to custody crypto assets. The proposal would allow self-custody under certain circumstances and permit state trust companies to serve as custodians of clients’ and regulated funds’ crypto assets; the comment period is 60 days after the proposal is published in the Federal Register.
The proposal incorporates self-custody and the use of state trust companies as custodians into the regulatory framework under certain conditions, while setting a 60-day comment period, making it useful for understanding its impact on institutional crypto asset custody arrangements.
Source:SEC — Press releases · sec.gov