SEC Outlines Crypto Custody Rules and Clarifies Token Buyback Treatment

The SEC proposes new crypto custody rules for investment advisers and funds, and it will allow advisers to self-custody client assets, according to CoinDesk. Source

The agency also clarified that token buybacks alone do not automatically classify a crypto asset as a security, and it is moving to settle the broader question of how professional money managers should hold such assets, according to Decrypt. Source