- The U.S. Securities and Exchange Commission is pursuing a plan to modernize cryptocurrency custody rules that apply to investment advisers and asset managers.
- The SEC aims to clarify the regulatory framework and custody standards for investment firms that hold clients’ cryptocurrency, while updating outdated provisions that are not necessary for investor protection to reduce the industry’s regulatory burden.
- The overhaul is part of SEC Chair Paul Atkins’s broader effort to modernize financial regulation. The specific revisions have not been disclosed, and the proposal could still be revised after review by the Office of Management and Budget.
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