Next for the U.S. SEC: Agency's chief crypto counsel illuminates path for custody
Summary
The SEC is preparing new crypto custody rules for investment advisers and broker-dealers as it works to fit digital assets into existing securities-market frameworks. An advisers’ proposal is under White House review and could be formally proposed after clearance; the broker-dealer proposal is still in development. SEC Crypto Task Force chief counsel Taylor Lindman said the rules aim to clarify how firms may custody both security and non-security crypto assets. The agency has issued interim broker-dealer guidance and previously allowed advisers to use state-chartered trusts as qualified custodians. The effort follows the shelving of a stricter 2023 proposal under the prior SEC leadership.
