Atkins Says SEC Custody Proposal Aims to Close Regulatory Gap for New Assets

Atkins said the custody provisions in the current Investment Advisers Act and Investment Company Act predate the internet, and that custody capabilities for newly listed assets often lag by months. According to ChainCatcher, he said the SEC's custody rule proposal is intended to fill that gap.Atkins also outlined the current SEC's crypto regulatory actions, including ending regulation by enforcement, arrangements related to tokenized securities, a proposed issuance framework for Regulation Crypto Assets, and an innovation exemption. He said more regulatory proposals are on the way.