Original sourcebingx.com
Summary
The SEC has sent draft crypto asset custody rules to the White House Office of Management and Budget (OMB) for review, covering investment companies, investment advisers, and broker-dealers, with proposed standards for crypto asset custody. Public comment will begin only after OMB review is complet…
Key points
- Custody is the threshold for institutional capital to enter, and the direction of the draft rules will determine whether and how advisers and funds can hold crypto assets.
- Once custody standards take shape, they will directly determine whether traditional asset managers have a viable compliance path to hold crypto assets.
- Investment advisers and funds need to prepare custody structures and third-party custodian assessments in advance; custody technology providers can expect rising compliance demand and scrutiny, though details will only emerge after public comment.
Editorial note
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