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SEC proposes easing crypto custody rules for some advisers
The SEC’s proposal would allow advisers to hold clients’ crypto themselves when no eligible custodian is available, under set conditions.
The SEC has proposed easing rules around how investment advisers and funds hold crypto assets, aiming to remove a custody hurdle that has limited some businesses from offering digital assets to clients, according to Cointelegraph.
Cointelegraph reports the proposal would let advisers hold clients’ crypto directly when no eligible crypto custodian is available, but only with specified conditions.
The SEC also would allow state trust companies to act as crypto custodians, according to the report.
The proposal was published Thursday, Cointelegraph said.