Bitcoin traded near $86,800 on October 2 as the SEC proposed new rules for crypto custody. The proposal would let advisers use self-custody when qualifying custodians cannot hold specific crypto assets.

The SEC issued the proposal on October 1 under the Investment Advisers Act and Investment Company Act. The agency also proposed allowing state-chartered trust companies to provide qualifying crypto custody services.

The plan remains a proposal, so it does not immediately change existing custody requirements. However, it opens a formal 60-day public comment period after Federal Register publication.

Bitcoin Price And The SEC Custody Proposal

Bitcoin has traded above $86,000 as the cryptocurrency market enters October with stronger momentum….