By Dean Seal

The Securities and Exchange Commission has laid out a new set of rules for how investment firms and advisers manage their clients’ cryptocurrency.

The agency on Thursday issued a proposal to create custody rules for digital assets and establish who can serve as crypto custodians. The new rules would also clarify recordkeeping and auditing requirements for crypto and make it easier for advisers to provide crypto-related investment advice.

The proposal marks the SEC’s latest effort to fill the regulatory void around crypto after the Clarity Act, industry-friendly legislation that aimed to build a regulatory framework for crypto, failed to make it out of the Senate last month.

The SEC has championed…