SEC Proposes New Crypto Custody Rules for Investment Advisers and Funds
Source Summary
The U.S. Securities and Exchange Commission has issued a proposed rule governing cryptocurrency custody standards for investment advisers and funds. The proposal marks the final action of Commissioner Hester Peirce, who led the SEC's inaugural Crypto Task Force and departs this week.
Why it matters
The proposed rule establishes regulatory clarity on how investment advisers and funds must handle cryptocurrency custody, addressing a significant gap in existing SEC oversight of digital asset management.
