⚖️ SEC's Crypto Custody Rewrite Lands at White House
The SEC has sent a proposed overhaul of crypto custody rules to the White House Office of Management and Budget for review. The proposal covers investment advisers and investment companies, aiming to clarify how digital assets must be held for clients — and replaces a separate 2023 proposal that was withdrawn.
The timing is notable: the Clarity Act stalled in Congress, yet regulators are moving ahead on policy regardless. This is the rule that could finally tell Wall Street's advisory industry exactly how to handle client crypto without guessing.
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