BTC $84,605.98 -0.28%
ETH $2,674.49 -1.10%
BNB $768.94 -0.27%
XRP $1.49 -0.33%
SOL $119.08 +0.19%
TRX $0.3343 +0.00%
DOGE $0.0932 -0.91%
ADA $0.2463 +0.12%
BCH $312.75 +2.31%
LINK $13.87 -2.72%
HYPE $89.46 +1.85%
AAVE $179.46 +2.90%
SUI $1.17 +0.02%
XLM $0.2160 -1.24%
ZEC $1,317.68 -1.69%
AAPL $333.30 +0.69%
AMZN $251.45 +0.96%
GOOGL $343.14 +1.08%
MSFT $516.49 +0.17%
META $727.35 +0.04%
NVDA $234.25 +1.08%
TSLA $371.11 +4.29%
SNDK $1,720.16 -3.53%
INTC $118.97 -1.33%
SPCX $159.01 +6.61%
MU $1,068.68 -2.13%
AMD $634.08 +2.35%
BTC $84,605.98 -0.28%
ETH $2,674.49 -1.10%
BNB $768.94 -0.27%
XRP $1.49 -0.33%
SOL $119.08 +0.19%
TRX $0.3343 +0.00%
DOGE $0.0932 -0.91%
ADA $0.2463 +0.12%
BCH $312.75 +2.31%
LINK $13.87 -2.72%
HYPE $89.46 +1.85%
AAVE $179.46 +2.90%
SUI $1.17 +0.02%
XLM $0.2160 -1.24%
ZEC $1,317.68 -1.69%
AAPL $333.30 +0.69%
AMZN $251.45 +0.96%
GOOGL $343.14 +1.08%
MSFT $516.49 +0.17%
META $727.35 +0.04%
NVDA $234.25 +1.08%
TSLA $371.11 +4.29%
SNDK $1,720.16 -3.53%
INTC $118.97 -1.33%
SPCX $159.01 +6.61%
MU $1,068.68 -2.13%
AMD $634.08 +2.35%

ir

All
Article
Flash

first_img U.S. SEC Chairman: Plans to Establish a Framework for Cryptocurrency Asset Custody

The Chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, issued a statement saying that the Commission proposed a plan this week to fill the regulatory gap regarding the custody of cryptocurrency assets by investment advisors and funds, providing a clear custody framework and compliance path for an asset class with increasing client demand.Atkins stated that the existing custody rules under the Investment Advisers Act of 1940 and the Investment Company Act of 1940 were established before the advent of the internet, primarily targeting traditional assets and requiring the use of approved custodians. The custody capabilities for new cryptocurrency assets often lag behind the launch of the assets by several months. This proposal aims to address this issue while updating the custody rules for advisors and regulated funds that have not been revised for decades to align with current industry practices and feedback.The statement noted that this proposal is part of the SEC's regulatory framework for cryptocurrency assets. Related efforts include stopping the replacement of regulation with enforcement, issuing a no-action letter regarding the pilot program for the tokenization of securities by custodial trust companies by December 2025, publishing a classification description for tokenized securities in January 2026, and subsequent initiatives regarding the securities attributes of cryptocurrency assets, broker registration, Regulation Crypto Assets, and innovative exemptions for trading tokenized NMS stocks. Atkins indicated that more regulatory proposals will be forthcoming.

first_img Absa Bank in South Africa becomes the first bank in Africa to offer Bitcoin custody

According to Bloomberg, Absa Bank in Johannesburg, South Africa, has become the first bank in Africa to offer Bitcoin custody services, primarily targeting institutional clients, and will also provide custody services for other digital assets. Rob Downes, the head of digital assets at Absa's Corporate and Investment Banking division, stated that Bitcoin is the largest asset under custody at the bank, with plans to include more asset classes in the future. Absa did not immediately respond to Bitcoin Magazine's request for comment.Many banks around the world are gradually integrating or launching Bitcoin-related products and services. Some banks in the United States and Europe have begun offering crypto asset custody for institutional clients. In 2022, BNY Mellon became the first large bank in the United States to offer digital asset custody services; this month, Deutsche Bank announced plans to launch Bitcoin custody services for European businesses and institutional clients later in 2026.Africa has a large base of crypto-native users. A report by Chainalysis in 2025 shows that South Africa's on-chain value reached $36 billion, ranking second in Sub-Saharan Africa, only behind Nigeria's $92.1 billion; South Africa ranks 30th in the global crypto adoption index. Unlike Nigeria, the South African market is characterized by more institutional features, with a relatively clear regulatory framework that has issued hundreds of licenses to virtual asset service providers, attracting professional investors and traditional financial institutions.
app_icon
ChainCatcher Building the Web3 world with innovations.