Key Takeaways
Bitcoin Magazine reports the SEC has sent a proposal to the White House to clarify and modernize crypto custody regulations.
According to Bitcoin Magazine, the Securities and Exchange Commission (SEC) has sent a proposal to the White House to clarify the framework for the custody of crypto assets for investment advisers and investment companies. Reported by Mathew Di Salvo, the rule change submitted on Tuesday aims to improve and modernize regulations surrounding crypto custody, removing outdated provisions as market practices evolve.
The regulatory move follows a delayed vote on the Clarity Act after Democrats balked at the latest draft, pushing the congressional vote to September. Despite the delay, regulators are continuing to shape crypto policy. CFTC Chairman Michael Selig stated he will proceed with rulemaking regardless of the Clarity Act's status, and the SEC previously proposed a framework allowing token issuers to raise money in the U.S. without violating securities laws.
President Donald Trump urged lawmakers to pass the Clarity Act, and SEC Chair Paul Atkins stated he is committed to supporting Congress in advancing the bill. Regulators have adopted a different approach to the digital asset space since President Trump took office after campaigning to support the crypto industry.
Source & Fact-Check Note
This report is synthesized from coverage by Bitcoin Magazine. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at Bitcoin Magazine ↗
