Fox Business Crypto Reporter Says Self-Custody Proposal Focuses on Bankruptcy Protection
A Fox Business crypto reporter said on X that a self-custody proposal focuses on bankruptcy protection and would require registered investment advisers to sign written agreements with clients. According to Odaily, the proposal would state that crypto assets held in advisers' self-custody would be treated as financial assets under Article 8 of the Uniform Commercial Code. The proposal is intended to reduce the risk that clients lose crypto assets if an adviser becomes insolvent.