NewsHK
Sector-wide, custody standards for investment advisers and funds holding digital assets have resisted a clean answer.
The Securities and Exchange Commission has now sent a proposed overhaul of those rules to the White House for review.
The rulemaking, if finalized, could clarify how investment advisers and funds hold digital assets for clients. The proposal addresses a structural point.
Investment advisers and funds operating under securities law carry custody obligations when holding client assets, and the SEC's overhaul addresses how those obligations apply to digital assets specifically.
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