The SEC continues to deliver on its promise to innovate the regulatory landscape. This proposed rulemaking represents a landmark step forward, bringing the custody rules under the Investment Company Act and the Investment Advisers Act into alignment with today’s digital asset markets.

We are pleased to see many of the recommendations made in our Crypto Task Force RFI responses reflected in the proposing release. Chief among them: (1) permitting state-chartered trusts to serve as qualified custodians, (2) allowing investment advisers and investment companies to self-custody digital assets under certain circumstances, and (3) update the recordkeeping and disclosure obligations for advisers and regulated funds.

Yesterday’s proposing release joins a growing body of recent SEC rulemakings reshaping the U.S. digital asset ecosystem to position the United States as the world’s leading hub for crypto innovation. We’re proud to stand alongside the SEC as it charts this new regulatory path forward.

For any inquiries, please contact TDC at press@digitalchamber.org.