The U.S. Securities and Exchange Commission (SEC) has advanced a proposed rule establishing crypto asset custody standards for broker-dealers and investment advisers to the White House review stage. Once the proposal clears the Office of Management and Budget (OMB), it will be formally published and open for industry comment.

Taylor Lindman, senior adviser to the SEC’s Crypto Task Force, disclosed the development on the 22nd (local time) at a CoinDesk policy and regulation event in Washington. He explained that the proposal addresses pathways for broker-dealers to hold non-security crypto assets without separate special registration, as well as the scope of qualified institutions where investment advisers may place client assets.

The…