SEC proposes new crypto custody routes, clarifies meaning of "self-custody"
- —The October 1 proposal widens custody options for registered advisers and investment companies
- —"Self-custody" here means an adviser holds client assets, not that investors control their keys
- —Advisers must re-confirm each quarter that no permitted custodian is available
- —Safeguards include dual transaction authorization, annual reviews and quarterly client statements
Why it matters: The rules shape institutional crypto access in the U.S. while leaving direct key control with intermediaries rather than investors.
Source: DiarioBitcoin