SEC Proposal to ease certain custody requirements for investment companies holding crypto assets
BIBIBI
AT A GLANCE
According to reports, the U.S.SEC has proposed allowing more investment companies to hold digital assets on behalf of clients; the rules are still subject to public comments and a vote.
Article
U.S.SEC proposes easing regulations related to investment companies holding crypto assets
BlockBeats reports,October 2, according to Bloomberg, the U.S. Securities and Exchange Commission (SEC) has proposed allowing more investment companies to hold digital assets on behalf of clients.
This is the agency’s latest initiative to advance cryptocurrency regulation. Previously, the market structure bill backed by the crypto industry stalled in the U.S. Senate last month. If ultimately approved, the proposal would remove some existing custody requirements.SEC will solicit public comments on the proposal for 60 days, and then formulate a final version based on the feedback. The final rule will still need to be approved by SEC vote before it can take effect.
Original link https://m.theblockbeats.info/flash/369972
Key points
01
BlockBeats said,October 2 according to Bloomberg, the U.S. Securities and Exchange Commission (SEC) has proposed allowing more investment companies to hold digital assets on behalf of clients.
02
If the proposal is ultimately approved, some existing custody requirements would be removed.
03
SEC will solicit public comments on the proposal for 60 days.
04
SEC A final version will then be formulated based on the feedback.
05
The final rule must be approved by a SEC vote before it can take effect.
06
The market structure bill backed by the crypto industry stalled in the U.S. Senate last month.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This is a rule proposal that has not yet taken effect. It addresses whether investment companies may hold digital assets on behalf of clients and whether some existing custody requirements should be removed. It must next undergo 60 days of public comment, be finalized based on the feedback, and be approved by a SEC vote.
Why it matters to readers
If the final rule is approved, more investment companies may be allowed to hold digital assets on behalf of clients, and some existing custody requirements may also be removed. However, the original text does not specify the companies covered, the scope of assets, or which requirements would be removed.
Beginners should understand this as a regulatory rule still under discussion, rather than as an easing that has already taken effect. Follow the subsequent final version and SEC vote result, and do not assume that the rule has taken effect based solely on news from the proposal stage.
Risks and unknowns
The content was relayed by BlockBeats from a Bloomberg report; the material did not provide the SEC original proposal text.
The proposal remains at the public-comment stage, and its final content may change.
Whether the final rule will pass a SEC vote remains uncertain.
The original text does not specify the precise scope of application or list which custody requirements would be removed.
The original text only says “October 2” and “last month,” without specifying the year.
Related Developments
Loading event timeline…
Related concepts
Digital Assets
This term is not in the glossary yet. Browse related concepts in the glossary.
