THE BLOCK: SEC submits custody rule overhaul to White House budget office, with crypto in focus
AI Market Summary
The SEC has sent a proposal to the White House Office of Management and Budget to modernize custody rules for investment advisers, explicitly including crypto assets. Progress on clarifying custody standards can affect how regulated advisers access and safeguard client crypto holdings, influencing institutional participation and compliance costs. Near term, the news may raise focus on regulatory pathways for adviser-managed crypto exposure and custody providers.
Impact level
● Medium
Affected assets
BTC/USDT+0.65%
AI Insight · BTC/USDTAI Insight
● Neutral
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THE BLOCK: The White House Office of Management and Budget received a proposal from the Securities and Exchange Commission this week that would revise how investment advisers can custody cryptocurrencies. The SEC said the proposed rules and amendments are intended to "improve and modernize" the custody framework for investment adviser client assets and fund assets, including by specifically addressing crypto assets.
