The SEC is turning crypto custody into a fight over asset coverage

The SEC is introducing proposed rules that could significantly reshape the crypto custody landscape. These regulations emphasize asset coverage and integration rather than focusing solely on regulatory status. SEC Chairman Paul Atkins stated that this initiative aims to replace the uncertainty caused by outdated custody rules designed for a bygone era. Consequently, the SEC is transforming crypto custody into a focused debate over asset coverage, potentially changing how various funds manage and store their digital assets.