The U.S. Securities and Exchange Commission has proposed a rule change that would allow more investment companies to hold digital assets on behalf of clients, according to Bloomberg. The proposal is the agency’s latest move on crypto regulation and comes after a market structure bill backed by the crypto industry was blocked in the U.S. Senate last month. If adopted, the measure would remove some existing custody requirements tied to these holdings. The SEC plans to open a 60-day public comment period before drafting a final version based on the feedback it receives. Even then, the rule would not take effect automatically. It would still need formal approval through a vote by the commission before becoming effective.
The U.S. Securities and Exchange Commission has proposed allowing more investment companies to hold digital assets on behalf of clients, according to Bloomberg.
The proposal marks the agency’s latest move on crypto regulation. It follows the blockage of a market structure bill backed by the crypto industry in the U.S. Senate last month.
If adopted, the proposal would remove some existing custody requirements. The SEC will seek public comment on the measure for 60 days, then prepare a final version based on the feedback it receives. The final rule would still require approval through an SEC vote before it can take effect.
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