The U.S. Securities and Exchange Commission is aiming to clarify how investment firms can handle and keep customer crypto assets in a new rule proposed Thursday.

The proposal “would provide a clear regulatory framework for the custody of crypto assets, giving investment advisers and funds a compliant pathway where none existed before — and replacing the grey of uncertainty created by custody rules crafted for a bygone era,” said SEC Chairman Paul Atkins in a statement.

The SEC’s new approach would clarify what kinds of companies can properly hold crypto assets and how investment advisers and regulated funds need to keep records and make federal disclosures. It also offers new clarifications of industry practices and auditing…