The Securities and Exchange Commission proposed rules and amendments to provide a framework for the custody of crypto assets for registered investment advisers and regulated funds.
Details: The SEC said the proposal would remove regulatory barriers that inhibit investment advisers’ ability to provide crypto-related investment advice and allow regulated funds to offer clients access to a wider range of crypto asset-related investment strategies.
Input: The public comment period will remain open for 60 days following publication in the Federal Register.
More: Following last month’s failed Clarity Act vote in the Senate, the SEC and Commodity Futures Trading Commission issued rules to benefit crypto firms and software.
Statement: Following the Clarity Act vote, SEC Chairman Paul Atkins and CFTC Chairman Mike Selig said their agencies would act on crypto issues without or without legislation.