SEC Proposes New Regulatory Framework for Crypto Asset Custody

The U.S. Securities and Exchange Commission (SEC) has released a new proposal to establish a clear regulatory framework for the custody of crypto assets by investment advisers and regulated funds. The proposal outlines requirements for record-keeping, disclosure, and auditing, while permitting self-custody under specific conditions and authorizing state-chartered trust companies to act as custodians. The draft is open for a 60-day public comment period.