The US Securities and Exchange Commission is proposing to allow more companies to hold digital assets on behalf of customers. According to the proposal issued on October 1, investment managers will be allowed to hold clients' crypto assets if they determine that no other qualified custodian is available. Under the proposal, state trusts can also provide escrow services. The 760-page proposal aims to bridge the gap between the rapid development of new crypto securities and qualified custodians who are willing and able to hold these assets on behalf of clients. Current rules stipulate that only qualified custodians can hold customer assets. SEC Chairman Paul Atkins said in a statement: “For newly emerging crypto assets, custodial capacity may be months later than when the assets go live.”
Zhitongcaijing · 1d ago
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The US Securities and Exchange Commission is proposing to allow more companies to hold digital assets on behalf of customers. According to the proposal issued on October 1, investment managers will be allowed to hold clients' crypto assets if they determine that no other qualified custodian is available. Under the proposal, state trusts can also provide escrow services. The 760-page proposal aims to bridge the gap between the rapid development of new crypto securities and qualified custodians who are willing and able to hold these assets on behalf of clients. Current rules stipulate that only qualified custodians can hold customer assets. SEC Chairman Paul Atkins said in a statement: “For newly emerging crypto assets, custodial capacity may be months later than when the assets go live.”
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