[SEC Proposes Clear Rules for Investment Advisors and Funds on Crypto Asset Custody] Odaily Planet Daily reports that the U.S. Securities and Exchange Commission (SEC) on Thursday proposed new regulations aimed at clarifying the requirements for investment advisors and regulated funds to hold and safeguard client crypto assets. The proposal also seeks to standardize record-keeping, federal disclosures, industry practices, and audit requirements. SEC Chairman Paul Atkins stated that the current custody rules primarily address traditional assets, and the new regulations will provide a regulatory framework for crypto asset custody. The proposal is open for a 60-day public comment period and, under certain conditions, would allow for self-custody of crypto assets and the use of state-chartered trust institutions as custodians. (CoinDesk)