The U.S. Securities and Exchange Commission has submitted a proposed rule change aimed at updating the regulatory framework for crypto custody. According to the brief cited by Techub News, the proposal is designed to modernize existing rules and adjust oversight requirements for digital asset custodial service providers as the crypto industry evolves. The SEC said the new rules would strengthen protections for investor assets while spelling out the responsibilities and compliance standards expected of custodians. The proposal is described as part of the agency’s broader effort to refine its digital asset regulatory framework. If adopted, it is expected to affect exchanges, custodians and other related service providers involved in crypto asset handling and safekeeping.
The U.S. Securities and Exchange Commission has submitted a new rule proposal to update crypto custody regulations, according to Techub News.
The proposal is intended to modernize the regulatory framework and revise oversight requirements for digital asset custodial service providers so they better reflect the development of the crypto industry. The SEC said the new rules would strengthen protection for investor assets and clarify the duties and compliance standards that apply to custodial institutions.
The agency described the move as part of its ongoing effort to improve the regulatory framework for digital assets. The proposal is expected to affect exchanges, custodians and other related service providers.
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