1/ Blockchain Association submitted a response to the SEC's Crypto Task Force, urging the SEC to modernize custody rules for digital assets. Current rules hinder advisers (e.g., vc funds) from serving clients in the crypto space. Here's a summary of our recommendations.
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1/ Blockchain Association submitted a response to the SEC's Crypto Task Force, urging the SEC to modernize custody rules for digital assets. Current rules hinder advisers (e.g., vc funds) from serving clients in the crypto space. Here's a summary of our recommendations.
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https://theblockchainassociation.org/wp-content/uploads/2025/06/BlockchainAssociation-RFI-Response-Re-Custody-Topics.pdf

Head of Legal @ Blockchain Association. Casts not legal advice. 

Author of @ The Undefined on Substack. 

4/ We propose that RIAs should have a choice. They should be able to choose to self-custody if it better serves their investors and the mechanism of custody follows clear, reasonable guardrails that include things like disclosures, consent, and independent verifications and audits.

3/ Today, RIAs can’t self-custody digital assets (even when safer), are restricted from using crypto-native custodians if they aren’t a Qualified Custodian, and face barriers to on-chain activities like staking or governance that may benefit clients. These limitations hurt innovation and client outcomes.

2/ The custody rules governing registered investment advisers (RIAs) were written in 1962 and last updated in 2009 – before blockchain technology. This outdated framework imposes a one-size-fits-all model that often prevents RIAs from selecting the safest or most cost-effective custody options.