SEC Opens New Crypto Custody Path For Investment Advisers And Funds
Summary
The SEC has proposed a tailored crypto custody framework for registered investment advisers and regulated funds. It would permit limited self-custody when no eligible custodian is available for an asset, subject to ongoing review, and allow state trust companies to act as custodians under specified conditions. The proposal also addresses broader custody matters, including audits and broker-dealer services. The rules are not yet adopted; a 60-day public comment period is expected after Federal Register publication, and the final version may change.
