The U.S. Securities and Exchange Commission (SEC) announced on the 2nd a new set of proposed rules concerning the custody of cryptocurrencies by regulated entities such as registered investment advisory firms and mutual funds or business development companies. Many of the existing custody rules were established before the widespread use of the internet, and the proposal aims to update the framework to align with current practices.
This proposal seeks to remove regulatory barriers for investment advisory firms when providing cryptocurrency-related advice, allowing regulated funds to offer a broader range of cryptocurrency investment strategies to their clients...