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SEC proposes crypto custody rules, including a self-custody path

Comments are due 60 days after the proposal is published in the Federal Register, according to coverage of the SEC filing.

Reported · Written up by our desk · Regulation

The SEC has issued proposed rules aimed at governing how investment advisers and funds custody crypto assets, a step that outlines an alternative approach for some firms. CoinDesk reports the move marks a transition moment for the SEC’s inaugural Crypto Task Force leadership, with Commissioner Hester Peirce set to exit this week.

According to The Block, the SEC’s framework would allow self-custody in some cases, and it also lays out conditions for using state trust companies as custodians. The Defiant adds that the proposal includes an additional route for custody but remains conditional on meeting the SEC’s stated requirements.

Bitcoin Magazine similarly describes the proposal as designed to help regulate custody practices for investment funds holding crypto. The Defiant notes that public comments are due 60 days after Federal Register publication.

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