SEC Advances Crypto Custody Rules as Congress's Crypto Bill Stalls

The US Securities and Exchange Commission has proposed new rules aimed at making it easier for investment advisers and regulated funds to hold cryptocurrencies on behalf of their clients, according to a report by CNBC.

The move comes as a broader cryptocurrency bill in Washington remains stalled in Congress, leaving the SEC to advance its own regulatory changes in the meantime rather than waiting for comprehensive legislation.

The proposed rules would adjust custody requirements that currently govern how advisers and funds can hold digital assets for clients, a long-standing point of friction for firms seeking to offer crypto-related investment products.

The report did not detail the specific timeline for the SEC's rulemaking process or the precise provisions of the larger congressional crypto bill that remains stuck. Further developments on both fronts were not included in the available reporting.