The US SEC proposes to update custody rules, allowing investment advisors to self manage digital assets

The US SEC proposes to update the rules for digital asset custody, allowing investment advisors to self custody digital assets without a qualified custodian, but must meet written evaluation, multi-party authorization transfer, wallet isolation, and security review requirements. The proposal intends to allow eligible state chartered trust companies to serve as qualified custodians for digital assets such as Bitcoin. (Source: Bitcoin News)