Regulation· ★★★★· bullish·

SEC Chair Atkins directs staff to draft self-custody crypto rules for advisers

  • —Atkins directed the SEC to develop self-custody crypto rules for advisers
  • —State trust companies will be able to act as custodians for funds
  • —Custody will become one of the three pillars of the SEC's crypto market framework, alongside Regulation Crypto Assets and transfer agents
  • —Atkins urged Congress to pass the CLARITY Act, but the SEC will continue regulating regardless of it
Why it matters: Easing the SEC's custody requirements could open direct crypto access for institutional advisers without third-party custodians.
Source: Bitcoin.com
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