SEC Sends Crypto Custody Rule Overhaul to White House for Review

The U.S. Securities and Exchange Commission has sent an overhaul of its crypto custody rules to the White House for review, according to Cointelegraph. The proposal concerns how investment advisers and funds hold digital assets on behalf of clients. If it advances, the revised framework could provide greater clarity around custody arrangements for crypto assets held by these market participants. The submission marks a further stage in the regulator’s review of its custody requirements, although the available information does not specify the proposal’s detailed provisions or the timetable for the review. The rulemaking is being watched for its potential effect on advisers, funds and other institutions responsible for safeguarding client digital assets. Further developments will depend on the outcome of the White House review and subsequent regulatory steps.