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 current requirements.
- The SEC recently released a proposed framework for crypto startups to raise capital.
- The Clarity Act, a legislative effort to provide crypto regulatory clarity, has been delayed.
- Regulators like the SEC and CFTC are committed to shaping crypto policy.
The U.S. Securities and Exchange Commission (SEC) has submitted a proposal to the White House aimed at modernizing and clarifying the rules surrounding the custody of crypto assets for investment advisers and companies. The proposal seeks to update existing regulations to better reflect the evolution of market practices and security trading.
This regulatory move comes despite a delay in the vote for the Clarity Act, a piece of legislation that pro-crypto lawmakers had hoped to pass. Regulators such as the SEC and the Commodity Futures Trading Commission (CFTC) have indicated their intention to proceed with shaping crypto policy independently of the act's passage.