SEC Sends Crypto Custody Proposal to White House for Review
- —SEC custody proposal is under review by the White House OMB
- —Regulator seeks clarity on how brokers hold non-security crypto assets
- —State-licensed trust companies are cited as possible qualified custodians for advisers
- —Approach differs from the 2023 custody proposal under Gary Gensler that was shelved
Why it matters: The rules would set the framework for traditional US brokers to handle crypto and reduce regulatory uncertainty for the industry.
Source: Koin Bülteni