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SEC Submits Cryptocurrency Custody Rule Proposal to White House
According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) has submitted a new rule proposal to the White House Office of Management and Budget (OMB) regarding custody of client digital assets by investment advisers and investment companies. The proposal aims to clarify the framework for advisers and funds to hold customer cryptocurrencies, addressing institutional inquiries on compliant asset custody practices. The SEC plans to remove existing custody requirements deemed obsolete
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