[SEC Chair: Proposal to Allow Advisors to Self-Custody Crypto Assets Under Certain Conditions] Odaily Planet Daily News – U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins stated that staff have been instructed to draft a proposal allowing investment advisors to directly custody clients' and regulated funds' crypto assets under certain conditions, and to consider permitting state trust companies to serve as custodians. Atkins noted that qualified third-party custodians for some crypto assets do not yet exist. This custody proposal is part of the SEC's crypto regulatory framework, with the SEC's crypto asset custody rule amendment having entered White House review in August. The framework includes two other components: the "Crypto Asset Regulation" proposed on August 18 and the modernization plan for transfer agent rules, which address crypto asset issuance and transfer respectively. Atkins also urged Congress to advance the CLARITY Act, though the bill failed to progress in a procedural Senate vote on September 15, with 49 votes in favor and 50 against. (Bitcoin.com News)