SEC Proposes Rule to Expand Crypto Custody Options for Advisers and Funds
(2 hours ago) · 1 source · Summarized by CryptoBipto
The U.S. Securities and Exchange Commission has put forward a proposal that could broaden the range of entities allowed to serve as custodians for crypto assets held by investment advisers and funds. The proposal aims to update existing custody rules to better accommodate digital assets. Details on the final scope and timeline for adoption remain uncertain.
WHY IT MATTERS
When investment professionals manage money on behalf of clients, they are required to keep those assets with a trusted third party called a "custodian" — think of it like a secure vault operated by someone independent.
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SOURCES
- newsbtc.com
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