U.S. SEC: Plans to relax cryptocurrency asset custody rules, allowing investment advisors to self-custody Bitcoin under certain conditions

According to BitcoinNews, the U.S. Securities and Exchange Commission (SEC) has proposed a new draft of digital asset custody rules, which aims to allow investment advisors and regulated funds to custody Bitcoin and other crypto assets under specific conditions, and to provide a formal regulatory pathway for state-chartered trust companies to become qualified crypto asset custodians.

According to the proposal, when a certain digital asset lacks qualified custodians willing to provide services, investment advisors may self-custody client assets under strict conditions, including written proof that custodians are unavailable, reassessment every three months, implementation of multi-signature transfers, isolation of client wallet addresses, and acceptance of independent audits. SEC Chairman Paul Atkins stated that current custody rules are primarily designed for traditional financial assets and are no longer suitable for the development of the digital asset market.

The report points out that Bitcoin may become one of the main beneficiary assets of this proposal, as its institutional custody infrastructure is relatively mature. However, the relevant rules are still in the proposal stage and have not yet officially taken effect.