Summary
The US Securities and Exchange Commission (SEC) issued a proposal amending custody rules for registered investment advisers and regulated funds to cover digital assets. The proposal adds two paths: one allowing advisers, under strict conditions, to self-custody client and fund crypto assets, and an…
Key points
- It opens a compliant entry path for institutional capital long hampered by a shortage of qualified custodians.
- Expanded custody options are a key prerequisite for institutional capital entering crypto markets and directly affect advisers' operational workflows.
- Funds and advisers can assess self-custody or state trust custody, but must bear stricter safekeeping, control and audit obligations.
- The proposal follows the March 2026 interpretive release and the August draft Regulation Crypto Assets, part of a series of SEC rule adjustments on digital assets.
Editorial note
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