The U.S. Securities and Exchange Commission has proposed changes to digital asset custody rules that would widen the custody options available to investment advisers in certain situations. According to a post by Bitcoin News on X, the proposal would allow advisers to self-custody specific assets when no qualified custodian is willing to hold them. That option would come with conditions, including a written assessment, multi-party authorization for transfers, wallet segregation, and security reviews. The proposal also contemplates allowing eligible state-chartered trust companies to serve as qualified custodians for digital assets such as Bitcoin. At the same time, the SEC has not identified or approved any specific digital asset for adviser custody under the proposal. If adopted, Bitcoin could benefit because institutional custody infrastructure for the asset is already more developed than for many other tokens.
The U.S. Securities and Exchange Commission has proposed an update to digital asset custody rules that would expand custody channels available to investment advisers in certain cases, according to a post by Bitcoin News on X.
Under the proposal, advisers could self-custody specific assets if no qualified custodian is willing to hold them. That would only be allowed if a set of requirements is met, including a written assessment, multi-party authorization for transfers, wallet segregation, and security reviews.
Proposal also covers state-chartered trust companies
The proposal would also allow eligible state-chartered trust companies to act as qualified custodians for digital assets such as Bitcoin.
The SEC has not yet explicitly approved any specific digital asset for custody by investment advisers under the proposal. If the rule is ultimately adopted, Bitcoin could benefit because institutional custody infrastructure for the asset is already relatively mature.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
