Given the scarcity of crypto custodial solutions, the SEC could clarify that, in certain circumstances, registered investment advisers (that are not qualified custodians) can use a combination of software and comprehensive internal controls to self-custody crypto. This doesn’t have to result in any relaxation of custodial rules – in fact, we strongly believe the SEC should put in place robust, technology-neutral principles regarding crypto custodianship.
Source: https://www.coindesk.com/layer2/2022/09/21/a-call-to-the-sec-treat-crypto-assets-as-if-clients-matter/?utm_medium=referral&utm_source=rss&utm_campaign=headlines