According to Wu Blockchain, the U.S. SEC has proposed new regulations and amendments to existing rules to establish a dedicated framework for registered investment advisors, registered investment companies, and business development companies to custody crypto assets. The proposal aims to update custody requirements under the Investment Advisers Act of 1940 and the Investment Company Act of 1940, including financial statement audits for registered investment advisors, broker-dealers providing custody services for regulated funds, and allowing self-custody of crypto assets under specific circumstances. It also permits state trust companies to act as custodians for client and regulated fund crypto assets. The SEC stated that the rules are designed to provide compliant pathways for advisors and funds to custody crypto assets. The public comment period will last for 60 days after the proposal is published in the Federal Register. https://(wublock123.com)/news/sec-proposes-custody-framework-for-advisor-and-fund-crypto-assets-69390