THE BLOCK: The SEC proposed a new regulatory framework for the custody of crypto assets by investment advisers and regulated funds, Chairman Paul Atkins said, aiming to provide a "compliant pathway" for holding digital assets under rules that largely predate the internet. The proposal would address a key gap for institutional investors, where qualified custodial infrastructure for some crypto assets may not yet exist, while also modernizing broader custody rules under the Investment Advisers Act and Investment Company Act.