U.S. SEC proposes modernized custody framework for advisers, regulated funds

The U.S. SEC has proposed a new regulatory framework for cryptocurrency custody by investment advisers and regulated funds, according to The Block. The proposal is intended to provide a compliant route for holding crypto within rules drafted before the internet became widespread. U.S. SEC Chairman Paul Atkins said the measure would address a key challenge for institutional investors that still lack qualified custody infrastructure for some cryptocurrencies, while modernizing broader custody rules under the Investment Advisers Act and the Investment Company Act.