SEC Releases Proposal for Cryptocurrency Custody Rules, Aiming to Provide a Compliance Path for Investment Advisors and Funds

Techub News reports, Paul Atkins, a commissioner of the U.S. Securities and Exchange Commission (SEC), tweeted that since the birth of Bitcoin in 2008, the market for crypto assets has evolved from a niche area into a trillion-dollar asset class, but current rules and regulations have not kept pace with this development. To address this, the SEC today released a proposal aimed at providing a clear regulatory framework for crypto asset custody, creating an unprecedented compliance pathway for investment advisors and funds to replace the uncertainties brought about by custody rules established in past eras. (@SECPaulSAtkins)