This is HUGE. The SEC has OFFICIALLY proposed new rules for how financial advisers and funds can hold crypto, including through self-custody in some cases. Here's what the proposal would do: 1. Self-custody allow crypto to be held in self-custody under certain circumstances 2. State trust companies let them act as custodians for client and fund crypto 3. Crypto advice remove barriers that stop advisers from giving crypto-related investment advice 4. Crypto funds let regulated funds offer a wider range of crypto investment strategies SEC Chair Paul Atkins says parts of the old custody rules "predate the internet," and that the proposal would give advisers and funds "a compliant pathway where none existed before." The public will have 60 days to comment once the proposal is published, before any final vote.