Key facts
- The SEC has submitted a proposal to the White House to modernize crypto custody rules for investment advisers and companies.
- The proposal aims to clarify the framework for holding crypto assets in compliance with federal securities rules.
- The rule was sent to the Office of Information and Regulatory Affairs for review before public comment.
- The Clarity Act, a legislative effort for crypto regulatory clarity, has been delayed.
- The SEC has shifted focus from enforcement to rulemaking for the crypto industry.
The U.S. Securities and Exchange Commission (SEC) has sent a proposal to the White House to modernize custody rules for investment advisers and companies, aiming to provide clarity on how institutions can hold digital assets for clients. The proposal was submitted to the Office of Information and Regulatory Affairs (OIRA) for review before it can be released for public comment.