The SEC Readies Custody Rules for the People Who'll Hold Your Bitcoin for You
The SEC sent a proposed overhaul of crypto custody rules for investment advisers and funds to the White House for review, per Bloomberg and CoinDesk — described as reviving a rule the previous administration failed to finalise; the text is not yet public. Separately, the full text of the SEC's already-proposed Regulation Crypto Assets framework was published at roughly 402 pages, including its token safe harbor, per coverage.
SEC Custody: who holds the keys for you
The 402-page rulebook is last week's proposal, now published in full — and it grabs the headlines. But the quieter move matters more: the SEC has sent Washington a plan to spell out how investment advisers and funds hold crypto for their clients.
Clear custody rules are the green light for pension funds, wealth managers and big institutions to pile in without breaking the law.
And every one of them holds coins on your behalf. You own the exposure; someone else holds the keys.
This is how self-custody quietly dies. Not by ban, but by convenience. The more legal it becomes for a professional to hold your Bitcoin, the fewer people ever hold their own.
Good for the price. Worse for the thing that made it worth owning.
Multi-media snippets
SEC proposes comprehensive crypto regulatory framework with token safe harbor
5 sources
- SEC’s proposed crypto rules probably won’t spark new ICO boom · cointelegraph.com · T1
- SEC Preps Overhaul of Crypto Custody Rules for Investment Firms · bloomberg.com · T1
- SEC proposes comprehensive crypto regulatory framework with token safe harbor · youtube.com · T2
- COINDESK: SEC resurrecting U.S. crypto custody rule the previous administration failed to land · coindesk.com · T2
- SEC sends crypto custody rule overhaul to White House for review · cointelegraph.com · T1