SEC sends crypto custody rule overhaul to White House for review
The securities regulator’s crypto custody overhaul could clarify how investment advisers and funds hold digital assets for clients as the proposal moves through review.
The US Securities and Exchange Commission (SEC) has submitted proposed changes to custody rules for investment advisers and funds holding digital assets to the Office of Information and Regulatory Affairs (OIRA) at the White House for review. The amendments, titled "Amendments to the Custody Rules," aim to provide greater clarity for institutions on how they can hold crypto assets for clients while remaining compliant with federal securities regulations.
The proposed rule, which has not been made public yet, is part of the SEC's broader efforts to advance the Trump administration's digital asset agenda. These changes would be implemented under either the Investment Advisers Act or the Investment Company Act and could potentially be released for public comment following a review by the White House Office of Management and Budget.
The SEC's new chair, Paul Atkins, has been advocating for a more crypto-friendly approach since taking office in 2025, moving away from enforcement actions towards developing clearer rules for the industry.
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