Policy and regulation
Laws, rules, and court cases, and what lawmakers and regulators decide.
SEC proposes rules for how funds and advisers may hold crypto
The Securities and Exchange Commission proposed new rules on October 1 for how registered investment advisers and regulated funds may custody crypto assets. The SEC said the proposal allows self-custody under set conditions and lets state trust companies act as custodians. The comment period runs 60 days after publication in the Federal Register.
Why it matters for Bitcoin: Custody rules decide who may hold bitcoin for funds and advisers, which shapes how traditional investment products can offer it.
Sources: U.S. Securities and Exchange Commission, published ; The Block, published . Link to this item
IMF approves $139 million for El Salvador and presses it to limit bitcoin activity
The International Monetary Fund approved a $139 million disbursement to El Salvador, Bitcoin Magazine reports. The fund also asked the government to reduce the state's involvement in bitcoin-related activities. It said no further bitcoin accumulation is planned beyond documented donations.
Why it matters for Bitcoin: El Salvador made bitcoin legal tender in 2021, and its loan program with the IMF sets limits on what the government does with it.
Source: Bitcoin Magazine, published . Link to this item
Community bankers' group sues the OCC over crypto trust charters
The Independent Community Bankers of America sued the Office of the Comptroller of the Currency on October 2, CoinDesk reports. The group accuses the regulator of overstepping its legal authority in granting crypto trust charters. The lawsuit is a claim, and no court has ruled.
Why it matters for Bitcoin: A national trust charter lets a crypto firm hold assets under federal supervision, so the outcome bears on who may offer bitcoin custody.
Source: CoinDesk, published . Link to this item